Zedi Inc. Provides Update on Discontinuance of TELUS CDMA EVDO Service
2013年12月11日 - 10:26AM
Marketwired
Zedi Inc. Provides Update on Discontinuance of TELUS CDMA EVDO
Service
CALGARY, ALBERTA--(Marketwired - Dec 10, 2013) - 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.
Zedi Inc.Debra DeaneInvestor
Relations403-802-7092403-444-1101investor@zedi.ca
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