WebTech Wireless Announces Graduation to Tier 1 Listing
February 3, 2006 - WebTech Wireless Announces Graduation to Tier 1 Listing
Burnaby, BC - February 3, 2006 - WebTech Wireless Inc. (TSX-V: WEW), a leading supplier of mobile telematics, today reported that it has successfully graduated to the Tier 1 issuer level of the TSX Venture Exchange, effective immediately. The Company's trading symbol will remain WEW.
As defined in TSX Policy 2.1, Tier 1 is the Exchange's premier tier and is reserved for the Exchange's most advanced issuers with the most significant financial resources. Tier 1 Issuers benefit from decreased filing requirements and improved service standards.
Mr. Anwar Sukkarié, President and Chief Executive Officer of WebTech Wireless Inc. commented, "WebTech's graduation to a Tier 1 listing reflects our growth and maturation from an early-stage company to a senior company generating increasing revenues and profitability."
With the graduation to a Tier 1 listing, 8,009,656 common shares which are currently held in escrow will be eligible for immediate release. A further 2,184,437 common shares held in escrow will be eligible for release on July 22, 2006. These escrowed shares, approximately 90% of which are held by directors and officers of the Company, were scheduled to be released in six month increments up until July 22, 2009. In addition, there are 150,000 common shares held in escrow and scheduled for release on March 24, 2006 which are not affected by the Company's graduation to a Tier 1 listing.
Forward Looking Statements
This press release contains forward-looking statements involving risks and uncertainties pertaining to, but not limited to product plans, timing, content, and pricing of products, market and industry expectations, the wireless communications industry, the mobile fleet industry, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this press release, WebTech cannot guarantee that any forward looking statements will not be realized.
Trademarks are the property of their owners.
To keep "plugged" in to our exciting growth story, please send an email requesting addition to our press release list to info@webtechwireless.com .


