[June 10, 2008] Craig Wireless Systems Ltd. announces filing of preliminary prospectus Tweet (Canada Newswire English Via Acquire Media NewsEdge) Attention Business Editors WINNIPEG, June 10 /CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") (TSX: CWG), is pleased to announce that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada, except Quebec, with respect to a public offering (the "Offering") of subordinate voting shares of the Company (the "Subordinate Voting Shares"). The offering price of the Subordinate Voting Shares will be determined at the time of filing the final prospectus. The Offering will be conducted on a best efforts basis and will be made through a syndicate of agents, co-led by National Bank Financial Inc. and Clarus Securities Inc., and including CIBC World Markets, Cormark Securities Inc. and RBC Capital Markets. The Offering is subject to usual conditions, including completion of documentation and receipt of applicable regulatory approvals. It is anticipated that the net proceeds from the Offering will be used by Craig Wireless for general corporate purposes including for expenses relating to the commencement of operations in certain of its markets and for operating expenses, to pursue growth opportunities, including direct or indirect strategic acquisitions of additional spectrum licenses or rights, and for other capital expenditures. The preliminary prospectus containing important information relating to the Company and the Subordinate Voting Shares has been filed with the regulatory authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from National Bank Financial Inc. at (514) 879-2465. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. A copy of the preliminary prospectus is also available on the SEDAR website (www.sedar.com). This press release is not an offer to sell or a solicitation of an offer to buy securities in the United States. The Subordinate Voting Shares of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. About Craig Wireless Systems Ltd. Craig Wireless Systems Ltd. and its affiliates (collectively, the "CWS Group") offer a broad range of telecommunications services, including, broadband Internet access, television programming delivery, business connectivity solutions, hosting, security and telecommunications solutions. Through certain members of the CWS Group, Craig Wireless holds or leases licenses for spectrum in the 2.5 GHz, 2.6 GHz or 3.5 GHz bands in Manitoba, British Columbia, the Coachella Valley region, California, United States, Greece, Norway and New Zealand. Spectrum in these ranges is effective for delivery of point-to-multipoint signals, possesses robust bandwidth capability and supports emerging WiMAX-based applications, including portable and mobile applications. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. Notice on forward-looking statements This release includes forward-looking statements regarding Craig Wireless and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Craig Wireless and its business. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Craig Wireless does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. J. Drew Craig, Co-Executive Chairman, Craig Wireless Systems Ltd., Tel: (416) 515-2222 ext. 2, email: [email protected] Copyright ? 2008 Canada Newswire Ltd. All Rights Reserved. [ Back To TMCnet.com's Homepage ]