TSX VENTURE SYMBOL: BZZ
MONTREAL, May 19 /CNW Telbec/ - Buzz Telecom Inc., a wholly-owned subsidiary of Buzz Telecommunications Services ("Buzz")(TSX V-BZZ) announced today that on March 30, 2009, the independent board directors of Buzz Telecommunications Services Inc. (the "Corporation"), as a result of the extraordinary efforts made by the Shareholders to improve the business of the Corporation despite the very difficult current economic conditions, granted a waiver and release from the Performance Escrow Agreement of the 6,300,000 performance shares held in escrow in respect of, amongst others, the three indirect controlling shareholders of the Corporation, Michel Bensoussan, Rafi Hazan and Elie Hazan (collectively, the "Shareholders").
For more information, please consult the related material change report filed with applicable securities regulatory authorities and available on www.sedar.com
ABOUT BUZZ TELECOMMUNICATIONS SERVICES INC. - www.buzztelecom.ca
Buzz Telecommunications Services through its subsidiaries Buzz Telecom and Triple 5 communications is a CRTC licensed and software development company specializing in dial around long distance products and services. Clients can effectively dial around their existing carriers by dialing 10-11-555 or 10-11-289, and the desired telephone number and the charges appear directly on the client's regular telephone bill. Buzz presently offers its services in Quebec and Ontario to Bell, Rogers, Videotron and to Fido clients. Buzz continues to develop long distance products for its clients in an effort to provide the long distance services as competitively priced as reasonably possible.
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