KELOWNA, BC and EDMONTON, July 11 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) is pleased to announce today that it has received $1.45 million from the closing of Fiber transactions announced on March 17, 2008. The final $150,000 payment (Technical Holdback) of the combined $1.75 million deal is anticipated to be released August 2008.
Mr. Neil Magrath, CEO, stated that "the Company will continue leveraging its strong cash position for increased market share of its wholly owned subsidiary ROM Communications Inc." Mr. Magrath further stated, "Management anticipates the Company achieving a sustainable positive cash flow standing by the end of the third quarter of this fiscal year."
Trading symbol: TTZ: TSX Venture
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or accuracy of this release."