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ZED Zedi Inc.

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Share Name Share Symbol Market Type
Zedi Inc. TSXV:ZED TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Zedi Inc. Provides Update on Discontinuance of TELUS CDMA EVDO Service

11/12/2013 12:26am

Marketwired Canada


Zedi Inc. (TSX VENTURE:ZED) ("Zedi" or the "Corporation") announced on October
24, 2013 that it had received notice from TELUS Communications ("TELUS") that
the TELUS CDMA EVDO service in British Columbia and rural Alberta will be
discontinued effective March 31, 2014. Subsequent to that announcement, Zedi has
been working diligently to define the full scope, timeline and costs that will
be associated with the network discontinuance and has reached an agreement with
TELUS on a project plan that finalizes the timing and scope of the work. Field
work has commenced based on the project plan. Based on the current schedule in
the project plan, the turndown of the network will commence on March 31, 2014,
with a phased discontinuance of the EVDO service through to June 30, 2014. There
are 7,960 devices that must have HSPA modem updates no later than June 30, 2014.
An additional 1,780 devices must be updated by June 30, 2015. Total direct
project costs to the Corporation under the plan are projected to be in the range
of $10-12 million, prior to any further mitigation. To minimize the impact to
its customers, the Corporation is using its own funds to pay the costs
associated with the discontinuance of the network and is continuing in its
discussions with TELUS with respect to their expected contribution to such
costs. The Corporation continues to work diligently internally and with TELUS to
both reduce and mitigate the impact on Zedi. Zedi will provide further updates
as circumstances warrant.


FORWARD-LOOKING STATEMENTS

Certain statements and information contained in this news release may constitute
forward-looking information and statements within the meaning of applicable
Canadian securities legislation ("forward-looking statements"). The use of the
words "expect", "anticipate", "continue", "estimate", "may", "will", "project",
"should", "believe", "plans", "intends" and similar expressions are intended to
identify forward-looking statements. In particular, this news release contains
forward-looking statements relating to the timing of the discontinuance of
TELUS' CDMA EVDO service, the number of devices affected by the discontinuance
and the costs associated with the discontinuance.


The forward-looking statements contained in this news release are based upon a
number of factors, expectations and assumptions, which management believes to be
reasonable. However, such factors, expectations and assumptions may prove to be
incorrect and, as a result, undue reliance should not be placed on such
forward-looking statements. In particular, forward-looking statements relating
to the discontinuance of TELUS' CDMA EVDO service are based upon the project
plan agreed to with TELUS and TELUS' stated commitment to assist the Corporation
in mitigating the risks of the discontinuance and the availability and costs of
alternatives available to the Corporation to minimize any adverse impact on the
Corporation.


The forward-looking statements involve a number of risks and uncertainties which
could cause actual results to differ materially from those anticipated by the
Corporation and described in this news release. Such risks include, but are not
limited to, the Corporation being unable to transition instruments on the CDMA
EVDO service to alternative service in a timely manner and the failure of TELUS
to provide support to the Corporation in making any necessary transition.
Readers are cautioned that the foregoing list of factors is not exhaustive.


The forward-looking statements contained in this news release are expressly
qualified by the foregoing cautionary statements and are made as of the date of
this news release. The Corporation does not undertake any obligation to publicly
update or revise any forward-looking statements, except as required by
applicable law. 


ABOUT ZEDI

Zedi Inc. (TSX VENTURE:ZED) helps the world's oil and gas producers be more
productive, more profitable, and more sustainable through technology backed by
expert consultation and services. Our 60 years of continuous operations in North
America and recognition as one of the industry's best workplaces, sets us apart
in the production operations landscape. With our unique combination of
award-winning automation, data management, and field and professional services,
we offer solutions to our customers' challenges and help them realize their
production potential.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Zedi Inc.
Debra Deane
Investor Relations
403-802-7092
403-444-1101 (FAX)
investor@zedi.ca

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