CorEnergy Infrastructure (PK) (USOTC:CORR)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more CorEnergy Infrastructure (PK) Charts. Click Here for more CorEnergy Infrastructure (PK) Charts.](/p.php?pid=staticchart&s=NO%5ECORR&p=8&t=15)
Corridor Communications Corporation Closes Strategic Acquisition
of Ash Creek Wireless Serving Dallas, Monmouth and Independence, Oregon
Corridors Expansion Plans Begin to Take Shape as the Company Takes Over New
Territories and Adds Over 200 Residential and Business Customers; Motorola
Canopy 5.7Ghz Gear is Added to the Backbone of the Network
MOUNTAIN VIEW, Calif., July 6 /PRNewswire-FirstCall/ -- Corridor
Communications Corporation (OTC:CORR) (BULLETIN BOARD: CORR) has completed its
planned acquisition of Ash Creek Wireless. The companies have been working for
nearly six months towards the completion of this acquisition with the full
intention of linking the two systems together and allowing their combined
customer base to roam seamlessly through multiple Hot Zones. Ash Creek
Wireless serves its current customer base with two primary tower locations and
five Hybrid sites. These sites are all connected to a level one provider,
which is currently providing up to 3Mbps of bandwidth available to each
customer. The Motorola Canopy 5.7Ghz technology acquired from Ash Creek will
enhance the method Corridor uses to deploy Hybrid sites through out the
community. Corridors lower subscriber acquisition costs and dealer incentive
programs will allow a faster and more competitive deployment to subscribers in
the new areas.
Corridor now has dual technology in an expanded market providing WI-FI
High-Speed Broadband Internet services to all areas of the community not
currently being served by Corridor.
John Conley of Ash Creek Wireless said, "We are delighted with the acquisition
and look forward to marketing in the expanded coverage area and offering
Corridors enhanced services to the now combined customer base."
"We are extremely pleased with the synergies of this acquisition and especially
the addition of John Conley to Corridors Management Team. John brings not only
his success in launching a Wireless Internet Company, he also brings
thirty-nine years of diverse experience in the telecommunications industry
including twenty-eight years of wire-line experience and eleven years in
cellular, system development," said J. Michael Heil Chief Executive Officer of
the Company.
Scott Mac Caughern, Chairman of Corridor Communications Corporation stated,
"Subscriber growth is key as well as all the right people. I am very pleased
with the direction and management of Corridor today. This deal with Ash Creek
is just the beginning of our growth through acquisition period which we are
in."
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 .
DATASOURCE: Corridor Communications, Inc.
CONTACT: Scott Mac Caughern of Corridor Communications Corp.,
+1-650-961-5707, or
Web site: http://www.corridorcommunications.com/