CorEnergy Infrastructure (PK) (USOTC:CORR)
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Corridor Communications Completes Acquisition of Broadband
Wireless Assets
Company will expand broadband wireless data services to homes and businesses
MOUNTAIN VIEW, Calif., May 14 /PRNewswire-FirstCall/ -- Corridor
Communications Corporation. (BULLETIN BOARD: CORR) . The Company has
completed its acquisition of the assets of Corridor Communication Corporation
an Oregon corporation. ("Corridor-Oregon") This acquisition, along with the
appointment of J. Michael Heil as the Company's new Chief Executive Officer and
as a member of the board of directors has launched the Company into the
broadband wireless Internet business.
With the purchase of Corridor-Oregon's assets the Company is strategically
positioned in Salem Oregon and the surrounding communities in which it now owns
established hot zones at carefully planned tower locations from which most of
the areas 70,000 homes can receive service. The Company's new business model
allows subscribers to sign up and roam in an un-tethered environment connecting
at WI-FI Hotspot locations throughout the city with industry standard 2.4 GHz
802.11 wireless cards or adapter as well as being connected at their home or
office with the Company's installed customer premise equipment. The Company is
currently completing due diligence in order to finalize the acquisition of
Ashcreek Wireless and Quik Internet of the Valley Inc. which are two local
providers of internet service that management believes will enhance the
Company's new business plan.
"I am very pleased to have been able to complete this first step in the
development of our new WI-FI business plan with the acquisition of Corridor-
Oregon's assets," said Scott Mac Caughern, Chairman of Corridor Communications.
"We believe this acquisition has put our Company in a unique position with its
5.7 GHz backbone and 2.4GHz access points. Our goal is to provide ubiquitous
connectivity throughout the wireless service area and limit the amount of
Company installed customer premise equipment while growing the subscriber base.
To facilitate that model we have began to focus our access point/Hot zone
deployment to the nearly 18,000 residents that live in apartment complexes and
other Multiple Dwelling Units (MDU's) in the City of Salem," said J. Michael
Heil, Chief Executive Officer of the Company.
About Corridor Communications
Headquartered in Mountain View, California with Operations in Salem, Oregon,
Corridor Communications, Inc. is an integrated wireless Internet service
provider (WISP) offering high-speed Internet and data services, to residents
and businesses. The Company plans to implement a growth-through- acquisition
strategy by targeting small to mid size Dial Up Internet Service Providers
(ISP) in areas underserved by current broadband options. The growth strategy
will also focus on creating partnerships with existing hot spot management
companies while building company owned hotspots to create ubiquitous coverage
or "Hot Zones" that encompass entire cities.
Corridor's IP-Based technology supports all hardware meeting Wi-Fi 802.11(x)
standards operating in an unlicensed spread spectrums (2.4 GHz and 5.7 GHz),
and can be deployed far less expensively than comparable copper and cable
technologies. The company also plans to leverage its network build out for
other services that may include voice and video. For more information about
Corridor Communications, please visit the Company's web site at
http://www.corridorcommunications.com/
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements that are subject to
risks and uncertainties, including, but not limited to, the impact of
competitive products and pricing, product demand and market acceptance, new
product development, reliance on key strategic alliances, availability of raw
materials, the regulatory environment, fluctuations in operating results and
other risks detailed from time to time in the company's filings with the
Securities and Exchange Commission. Our forward-looking statements are based on
currently available information which management has assessed but which is
dynamic and subject to rapid and even abrupt change due to risks and
uncertainties that affect our business, including the unpredictability of
future revenues and limited visibility into future demand on which to base our
forecasts; the current uncertainty in our marketplace which may impact expected
demand, customer selection criteria and sales cycle; our ability to execute on
product deliverables and major customer contracts, slower economic growth
generally, slower adoption of broadband technology, or cutbacks in information
technology spending; and factors beyond our control such as power outages or
work stoppages at key customers.
CONTACT: Scott Mac Caughern of Corridor Communications Corp., +1-650-961-5707,
or smac@speedpalcom.
DATASOURCE: Corridor Communications
CONTACT: Scott Mac Caughern of Corridor Communications Corp.,
+1-650-961-5707, or smac@speedpalcom
Web site: http://www.corridorcommunications.com/