TORONTO, ONTARIO -- (Marketwire) -- 12/19/12 -- TeraGo Inc. (TSX: TGO) (www.terago.ca) today provided an update on the strategic review process that was announced by the Company's Board of Directors on September 5, 2012. The process of reviewing strategic options is being overseen by a Special Committee of the Company's Board of Directors comprised of four independent directors.
The Company continues to explore and evaluate a range of strategic options with a view to enhancing shareholder value. The Company has not set a definitive schedule to complete its process. Adecision on a course of action, if any, is not expected to occur before the end of 2012.
There can be no assurance that the strategic review process will result in any change in the operation or ownership of the Company. TeraGo does not intend to make further announcements with respect to the process until such time as it deems appropriate.
This news release includes certain forward-looking statements that are made as of the date hereof and that are based upon current expectations, which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. For example, the words anticipate, believe, plan, estimate, expect, intend, should, may, could, objective and similar expressions are intended to identify forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. When relying on forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the risks set forth in the Q3 2012 MD&A and 2011 Annual Information Form that can be found on SEDAR at www.sedar.com and other uncertainties and potential events. Except as may be required by applicable Canadian securities laws, we do not intend, and disclaim any obligation to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.
About TeraGo Networks
TeraGo Networks Inc. provides small and medium sized businesses with carrier-grade wireless broadband, data and voice communications services. The national network service provider owns and manages its wireless IP network servicing more than 6,500 customer locations in 46 major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver and Winnipeg. TeraGo Networks is a Competitive Local Exchange Carrier (CLEC) and is a wholly owned subsidiary of TeraGo Inc. (TSX: TGO). More information about TeraGo is available at www.terago.ca .