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Prestige Telecom initiates a strategic review process

^{Published on 2011-07-11 03:20:48 - Market Wire}
 

MONTREAL, July 11, 2011 /CNW Telbec/ - Prestige Telecom Inc. ("Prestige" or the "Company") (TSXV: PR), a leader in providing engineering, materials furnishing, installation and support services (commonly referred to as EF&I services), as well as technical and aerial services to the Canadian communications and broadcast industries, announced today that it has initiated a process to review strategic alternatives available to the Company. Such alternatives may include financing opportunities, a recapitalization, a strategic partnering, a merger or the sale of the Company (the "Strategic Process"). Samson Bélair/Deloitte & Touche has been retained as financial advisor to assist the Company in the Strategic Process.

The Strategic Process is being initiated in the context of the Company's desire to review its capital structure. There can be no assurance that the Strategic Process will result in any transaction. The Company does not intend to provide updates on the Strategic Process unless a definitive agreement is reached or a determination is made not to pursue any transaction.

Prestige Telecom Inc. also announces the official appointment of Alain Boucher as Chief Financial Officer. Mr. Boucher joined Prestige in December 2010 as interim Chief Financial Officer and is a key member of the executive team, participating in the strategic planning of the corporation.

About Prestige Telecom Inc.

Prestige Telecom is a leading provider of network engineering, materials furnishing, installation and support services (commonly referred to as EF&I services) required to construct, operate and maintain wireline, wireless and cable television networks. Prestige assists telecommunications original equipment manufacturers and service providers to engineer, install and upgrade their infrastructures to support enhanced voice, high-speed data and video services. Prestige Telecom also provides technical and aerial services to the Canadian communications and broadcast industries, including tower supply, engineering, site construction, and infrastructure and equipment maintenance.

In Canada, Prestige has over 1,000 professional and technical personnel operating from nineteen (19) service locations in nine (9) provinces. Prestige's head office is located in Baie-D'Urfé (Montréal), Québec.

Forward-Looking Statements

This press release contains certain forward-looking statements with respect to the Company. Such forward-looking statements are dependent upon a certain number of factors and are subject to risks and uncertainties. Management does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except when required by the regulatory authorities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.