Times Three Wireless Announces Staff Termination
January 17 2014 - 7:40PM
Marketwired
Times Three Wireless Announces Staff Termination
CALGARY, ALBERTA--(Marketwired - Jan 17, 2014) - Times Three
Wireless Inc. (TSX-VENTURE:TTW) ("Times Three" or the "Company")
announces that due to continuing financial constraints facing the
Company it has terminated the employment of four employees in its
Calgary office, including three technical staff and the Chief
Operating Officer. It is anticipated that some of these former
employees may continue to assist the Company on a consulting
basis.
The Board of Directors is continuing its strategic review of
Times Three's intellectual property licensing business and its
network operations business. As part of this review, the Board will
consider seeking strategic investment partners and/or the
divestiture of all or part of its intellectual property licensing
business and/or its network operations business.
About Times Three
Times Three, originally founded in 1995 as Cell-Loc Inc., is a
technology innovation and licensing company based in Calgary. It
has a long history of innovation and successful product development
in wireless location technologies and continues to hold its
portfolio of important patents and intellectual property.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements contained in this news release constitute
forward-looking statements. By their nature, forward-looking
statements are subject to numerous risks and uncertainties, some of
which are beyond Times Three's control including the impact of
general economic conditions, industry conditions, currency
fluctuations, competition from other industry participants, the
lack of availability of qualified personnel or management, stock
market volatility and ability to access sufficient capital from
internal and external sources,. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. Times Three's actual results,
performance or achievement could differ materially from those
expressed in or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits Times Three will
derive therefrom.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, Times Three disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Times Three Wireless Inc.Dave GuebertCFO403.569.5700