CALGARY, ALBERTA — (Marketwired) — 10/24/13 — Zedi Inc. (TSX VENTURE: ZED) (“Zedi” or the “Corporation”) announces it has received notice from TELUS Communications that the TELUS CDMA EVDO service in parts of British Columbia and Alberta will be discontinued effective March 31, 2014. Other TELUS CDMA service will not be affected and continue to operate. Zedi understands that the CDMA bandwidth will be repurposed by TELUS to expand their existing HSPA network, which is also currently used by the Corporation. TELUS has committed to work very closely with Zedi staff to minimize the impact to Zedi and to provide support. Zedi is diligently reviewing and assessing the impact of this network change for that portion of the Zedi fleet that communicates via CDMA, and is working with TELUS to develop a plan for the transition to HSPA in a manner that minimizes any impact on our customers. While the full impact of the discontinuance cannot be quantified at this time, Zedi will provide updates as to any specific impacts arising from the network change as more information becomes available.
FORWARD-LOOKING STATEMENTS
Certain statements and information contained in this news release may constitute forward-looking information and statements within the meaning of applicable Canadian securities legislation (“forward-looking statements”). The use of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements relating to the discontinuance of TELUS– CDMA EVDO service and the anticipated impact on the business, operations and assets of the Corporation.
The forward-looking statements contained in this news release are based upon a number of factors, expectations and assumptions, which management believes to be reasonable. However, such factors, expectations and assumptions may prove to be incorrect and, as a result, undue reliance should not be placed on such forward-looking statements. In particular, forward-looking statements relating to the discontinuance of TELUS– CDMA EVDO service are based upon TELUS– stated commitment to assist the Corporation in mitigating the risks of the discontinuance and the availability and costs of alternatives available to the Corporation to minimize any adverse impact on the Corporation.
The forward-looking statements involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Corporation and described in this news release. Such risks include, but are not limited to, the Corporation being unable to transition instruments on the CDMA EVDO service to alternative service in a timely manner and the failure of TELUS to provide support to the Corporation in making any necessary transition. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements contained in this news release are presented to assist current and potential investors in assessing the value of the Corporation–s securities. The forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements and are made as of the date of this news release. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements, except as required by applicable law.
ABOUT ZEDI
Zedi Inc. (TSX VENTURE: ZED) helps the world–s oil and gas producers be more productive, more profitable, and more sustainable through technology backed by expert consultation and services. Our 60 years of continuous operations in North America and recognition as one of the industry–s best workplaces, sets us apart in the production operations landscape. With our unique combination of award-winning automation, data management, and field and professional services, we offer solutions to our customers– challenges and help them realize their production potential.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Zedi Inc.
Debra Deane
Investor Relations
403-802-7092
403-444-1101 (FAX)