CHEYENNE, WYOMING, (ACCESSWIRE - August 22, 2013) - US Wireless Online, Inc. (UWRL) www.uswirelesscorporation.com/ further to the Company news release of July 26, 2013 the Company is pleased to report the following progress made:
· UWRL Management and India based IT Company Key Techno Labs Pvt. Ltd. (http://www.keytechnolabs.com/) has executed the LOI
· The due diligence stage has been completed
· All necessary approvals and authorizations have been received by both sides
· Settlements / termination employment etc has been finalized with all previous management and board members.
· New India based management and board members will be appointed immediately upon announcement of the definitive agreement of the merger
· All amalgamation and logistics have been completed
The formal merger and definitive agreement will be made shortly without further notice.
The Company wishes to use this opportunity to express its gratitude for the patience its long term followers have demonstrated. The management is hopeful that the unscheduled delays will be well rewarded for all shareholders through a higher valuation of the entire organization moving forward.
More details will follow on a timely and frequent basis.
Safe Harbor Statement
Information in this release may contain statements about future expectations, plans, prospects or performance of US Wireless Online, Inc. (UWRL) that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. US Wireless Online, Inc. (UWRL) cautions you that any forward-looking information provided by or on behalf of US Wireless Online, Inc. (UWRL) is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. US Wireless Online, Inc. (UWRL)'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond US Wireless Online, Inc. (UWRL)'s control. In addition to those discussed in US Wireless Online, Inc. (UWRL)'s press releases, public filings, and statements by US Wireless Online, Inc. (UWRL)'s management, including, but not limited to, US Wireless Online, Inc. (UWRL)'s estimate of the sufficiency of its existing capital resources, US Wireless Online, Inc. (UWRL)'s ability to raise additional capital to fund future operations, US Wireless Online, Inc. (UWRL)'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match US Wireless Online, Inc. (UWRL)'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made US Wireless Online, Inc. (UWRL) does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Magna Biz Consultants
Source: US Wireless Online, Inc.