Business
Total Telcom Benefits From Fiber Sale
Total Telcom Benefits From Fiber Sale.
About this update from Total Telcom Inc.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, Jan. 29 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today\nannounced that it has agreed to the conditional sale of fiber inventory held\nby its former wholly owned subsidiary Total Telcom Fiber Inc. (TTFI) to an\nAlberta based company. The $750,000 cash purchase price is subject to the\nbuyers' due diligence and is expected to be completed by the end of April,\n2007. Under the terms and conditions from the sale of TTFI, Total Telcom Inc.\nwill receive 90% ($675,000) of the proceeds.\n\n\nMr. Neil Magrath, CEO, stated that \"While the demand for fiber has\nsomewhat decreased over the last several years, the quality and geographical\nlocation of Total Telcom's former fiber-optic network remains a strategic part\nof Alberta's growing infrastructure.\" Mr. Magrath further stated, \"This sale\nrepresents about a third of the fiber inventory that Total Telcom Inc. has a\nvested interest in.\"\n\n\nTrading symbol: TTZ: TSX Venture\n\n\n\"The TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\"\n\n\n","length":1123,"tagName":"div"}]