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March 3, 1999
NEWS RELEASE NO. 99-005
Trading Symbol VSE: CCB
US SEC Exemption No. 82-3378
RICHMOND, BC - James L. Swanson, Chairman, CON-SPACE COMMUNICATIONS LTD., (VSE:CCB) announced today cancellation of the contract, finalized in November 1997, to acquire the assets of LYNX-SCT Group GmbH, of Switzerland.
"A number of the original terms of the contract could not be validated by CON-SPACE," said Swanson, "and as a result we protected our position by canceling the agreement. This resulted in the reimbursement and return to treasury of 127,792 common shares issued in late 1997 as CON-SPACE's payment for the purchase."
"CON-SPACE's core business is growing at over 40% and we want to put all our efforts into increasing this growth rate," concluded Swanson.
CON-SPACE is the World's leading manufacturer of specialized
voice communication equipment for use in high noise applications,
confined space areas and hazardous environments. It has earned
the reputation of providing top quality products and service throughout
the world. Currently it has offices in Canada, the United States
and England with major distributors in many other countries.
For more information, please call James L. Swanson, Chairman CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected].
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