FORT LAUDERDALE, Fla., Sept. 30, 2003 (PRIMEZONE) -- Tekron, Inc. (OTCBB:TKRN), www.tekron-inc.com, today announced that the Company will acquire Canachina Inc, a manufacturer of TV, digital set-top receivers and user application software.
Both companies will trade on the Shanghai Technology Stock Exchange (STSE) and will maintain Web sites in Chinese and in English to allow customers to access a wide range of applications for digital technology, including Internet access and digital video/audio compression for high speed download. The two main technologies represent a multi-billion dollar business and will give the companies access to markets across China and Canada.
The initial market will include Shanghai's 30 million residents who will be offered unrestricted Internet access via TV set-top receivers that provide a comprehensive range of advanced cable, satellite and terrestrial digital video and audio applications with interactive customer capabilities.
The set-top digital receivers will provide versatile architectures that enable service providers to offer a range of free-to-air services, Internet access, data broadcasting and Pay-TV options. The set-top receivers eliminate the need for additional hardware such as a PC and modem to access the Internet, thus providing customers with a familiar and easy-to-use TV interface.
This acquisition is expected to be completed within one month and is subject to the approval of Tekron Shareholders and regulatory authorities.
About Tekron:
To receive company news release via e-mail, mail to info@tekron-inc.com.
The information contained in this press release may contain forward-looking statements within the meaning of the U.S. Federal Securities Laws. Such statements are based on the current expectations of the management of Tekron, Inc. only, and actual results may differ materially.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this news release. U.S. SEC exemption number is 12g3-2 (b) 82-5137.
Special Note: Management believes certain statements in his press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses.