Wi-Tron, Inc. Enters into a Non-Binding Letter of Intent with Cellvine Ltd. with Respect to a Potential Merger
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RARITAN, N.J., Feb. 12 / -- Wi-Tron, Inc. (BULLETIN BOARD: WTRO) , a manufacturer of power amplifiers, today announced that it has signed a non-binding Letter of Intent with Cellvine Ltd., a private Israeli corporation that develops and markets coverage and capacity solutions for the wireless telecommunications industry. The Letter of Intent reflects the intentions of both parties to effect a merger whereby Cellvine will merge with a wholly owned subsidiary of Wi-Tron. Pursuant to the merger, Wi-Tron will exchange its common stock for all of the outstanding securities of Cellvine, such that Cellvine security holders will own 85% of the total shares of Wi-Tron common stock, on a fully diluted basis. The merger will be subject to negotiating a definitive binding agreement, and obtaining all necessary corporate approvals.
Company Background
Wi-Tron, Inc. designs, manufactures and sells ultra linear single and multi-channel power amplifiers and broadband high-speed wireless products to the worldwide wireless telecommunications market. The single and multi-carrier linear power amplifiers, which are a key component in cellular base stations, increase the power of radio frequency and microwave signals with low distortion. The Company's products are marketed to the cellular, PCS, X-band, wireless local loop segments of the wireless telecommunications industry.
Cellvine Background
Cellvine Ltd. is a vendor of wireless coverage solutions for the cellular industry. The Company provides a comprehensive set of products for advanced outdoor and in-building cellular coverage with industry leading remote management capabilities, eliminating the need for costly infrastructure replacement. Cellvine supports all the cellular technologies and has a full suite of both standard devices as well as leading edge technology solutions.
Source: Wi-Tron, Inc.
CONTACT: Wi-Tron, Inc., +1-908-253-6870, tbains@Wi-Tron.com
Web site: http://www.wi-tron.com/
