June 22, 2000
NEWS RELEASE NO. 00-013
Trading Symbol CDNX: CCB
US SEC Exemption No. 82-3378
RICHMOND, BC - Mr. James L. Swanson, Chairman of CON-SPACE Communications Ltd., (CDNX:CCB) announced today the incorporation of a wholly owned subsidiary: CON-SPACE Technologies Inc. The new company was officially incorporated on June 19, 2000 and will begin operations July 1, 2000.
"In preparation for CON-SPACE to meet goals outlined in earlier releases and investor meetings, we have incorporated a new Company to handle all of our manufacturing operations effective July 1st 2000," said Swanson. "We are changing our structure to one that will see the parent company, CON-SPACE Communications Ltd., become a holding company for our different operations and make expansion into other markets easier. This new structure will also allow for more transparent integration and cost control when future acquisitions take place."
A growing portion of CON-SPACE revenue now comes from its "Private Label" program in which it manufactures products for other companies. This expanding business is of prime importance in both the short and long-term growth plans of the Company making the new manufacturing company a logical addition.
CON-SPACE manufactures and markets a line of unique communication equipment that allows people across thirty-seven industries, working in confined spaces and hazardous environments to maintain unbroken voice communication with outside personnel. The company recently introduced new accessories for its current systems plus a whole new line of two-way radio accessories. CON-SPACE equipment is now used worldwide and has been credited with saving the lives of several workers. Militaries, municipalities, general industry and rescue teams are all users of this special equipment.
CON-SPACE Technologies Inc., will be based
in Richmond, BC, and will join other current operating subsidiaries
located in the United States and Great Britain. Corporate Head
Office is also located in Richmond. Further, the company has another
Canadian division, CON-SPACE International, which markets CON-SPACE
products throughout the areas of the world where Company offices
are not located. The Company's web site is at www.con-space.com.
For more information, please call Shaheen Sidi, Controller, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. "Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.
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