EDMONTON, May 2 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) is pleased
to announce today that in accordance with the terms of the agreement for the
sale of it's wholly owned subsidiary Total Telcom Fiber Inc. (TTFI), the
company has received the final fixed payment in the amount of $1,250,000.
CEO Neil Magrath stated, "While this payment satisfies and completes the
initial sale and purchase agreement entered into on December 1, 2005, Total
Telcom will continue to benefit financially through the revenue sharing
agreement entered into as part of the sale.", Magrath further stated, "The
agreement covers all the unencumbered fiber assets held by TTFI prior to the
effective date of the sale and expires on November 30, 2010 with a minimum
future cash value to Total Telcom Inc. of $750,000."
"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release."
