Platinum Completes Community Networks Acquisition

Platinum Communications Corp. (TSX-V: PCS) announced today that it has completed a term loan financing of $2,000,000 at 12% from a private lender as well as the acquisition of Community Networks Ltd., o/a “eFirehose”, a regional Wireless Internet Services Provider (“WISP”) operating primarily in the North and East of Calgary, for $2,500,000. The acquisition of “eFirehose” strategically expands Platinum’s reach to Balzac, Beiseker, Cheadle, Chestermere, Conrich, Dalemead, Delacour, Dewinton, Irricana, Langdon and Rockyford amongst others, as it boosts its subscriber base to 13,000.

This strategic acquisition provides Platinum’s Internet and Voice services to rapidly growing communities servicing the oil and gas and agriculture industries. Coupled with the rollout of its new data center services, Platinum will be one of the few Alberta-based WISPs offering end-to-end solutions to discerning residential and commercial customers. A network map showing Platinum’s growing footprint with the addition of “eFirehose” can be found at http://www.platinum.ca/coverage-area.html.

Platinum will continue to seek out opportunities to expand its network and services to meet the needs of its subscribers as they enjoy the benefits of Alberta’s growing economy.

ABOUT PLATINUM COMMUNICATIONS

Platinum Communications Corporation (TSX-V: PCS) is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta. Based in Calgary, Platinum operates a wireless broadband network that utilizes Next-Generation WiMax technology to bring fast, reliable and affordable Internet services and digital phone solutions to residents and businesses across the Province. The company serves more than 13,000 customers in over 180 communities from 176 service delivery locations, primarily in rural Alberta. Platinum uses licensed and unlicensed wireless broadband and fiber network that extends from the north of Edmonton to the Alberta/US border, covering more than 65,500 square kilometers. Platinum caters to rural and near-urban markets that are often beyond the reach of traditional Internet providers. For more information, please visit our website at www.platinum.ca or call 403-301-4591.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors or uncertainties, many of which are beyond Platinum's control. Some of these risks and uncertainties may be described in Platinum's corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward-looking statements due to new information or events.

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 news release.

    
      
        
          For further information please contact:
        
      
      
        
          Bernard Parkinson, CEO
        
        
           
        
        
           
        
        
          Katherine Kirkup, CFO
        
      
      
        
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