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Madison Systems Inc. Announces a Letter of Intent to Acquire Stanmac Broadband Inc.
[October 02, 2018]

Madison Systems Inc. Announces a Letter of Intent to Acquire Stanmac Broadband Inc.


TORONTO, Oct. 2, 2018 /CNW/ - Madison Systems Inc. (MADI) is pleased to announce that the company has entered into a Binding Letter of Intent (The "LOI") to acquire 100% of the outstanding shares of Stanmac Broadband Inc. (SBI), a private Canadian Corporation Registered under the laws of Ontario, Canada, in exchange for Common Restricted Shares of MADI (The "Acquisition").

Stanmac Broadband Inc., is a privately held company incorporated in the Province of Ontario, on Jan 16th, 2008 and licensed in the telecommunication industry, specializing in building systems too supply, Internet, IPTV, VoIP and Security services.  SBI has a licensing agreement with First Broadband Group (FBG) ( www.firstbroadbandgroup.com ) located in Vancouver B.C.  FBG has proprietary technology that can send an aggressive signal through the Ultra High Frequency (UHF) Spectrum enabling signal transmission to a larger reception area; faster speeds, less interference and 99.99% uptime as opposed to current line of sight technology.

SBI has a licensing agreement with the Canada Broadcasting Corporation (CBC), which has appoximately 500 towers across Canada.  SBI has a permit from Innovation Sciences and Economic Development Canada (ISED) to build systems in the Southern Ontario District of North Bay, encompassing approximately 5,000 square kilometers.  With this permit, SBI can supply a telecommunications signal to the underserved businesses, private subscribers and government agencies located in this region.



MADI plans to file its full disclosure following the OTC Markets Basic Disclosure Guidelines to qualify for the OTC Pink and then the Bulletin Board listing.

Madison Systems Inc.'s Board of Directors also announces the addition of a new Director and Chief Financial Officer, Iain Clinton, CPA, CA.  Mr. Clinton has 30 years of experience in the accounting field of Financial and Operational Management, including developing Corporate Governance, New Business Ventures and Regulatory Compliance.


Madison Systems Inc. (MADI)

Don McNally.

President/CEO

This press release may include forward-looking information within the meaning of the OTC Markets Pink Guidelines, concerning the business and trading in the common stock of Madison Systems Inc. Such information is based on assumptions made by the company's management. Although the company believes these assumptions are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove correct. These forward looking statements are made as of the date of the press release and the company disclaims any obligation to update publicly any forward-looking information, other than required by the applicable securities law.

The OTC Markets has not reviewed, approved or disapproved the content of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/madison-systems-inc-announces-a-letter-of-intent-to-acquire-stanmac-broadband-inc-300722810.html

SOURCE Madison Systems Inc.


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