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Virtutone Announces Company Update

Apr 9 2013 12:00AM

Marketwire

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SHERWOOD PARK, ALBERTA -- (Marketwired) -- 04/09/13 -- Virtutone Networks Inc.,("Virtutone" or "the Company") (TSX VENTURE: VFX) is pleased to announce that its retail division has won 2 new contracts to provide managed line services to oil and gas supply companies. The Company will deploy more than 700 lines over the next few months, and expects the number of lines to increase significantly as these companies expand their operations. The Company is also working on a number of additional contracts, and looks forward to announcing these deals as they are finalized.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: VoIP, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products. Additional information can be found on the company's website at www.virtutone.com.

This document may contain certain forward-looking information or statements ("Forward-looking statements") as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any retail contracts; changes in the global economy; a failure to negotiate new customer contracts from the above noted retail division. Forward-looking statements are any statements other than statements of historical fact. The use of any "plan" "expect " "project" "believe" "should" "anticipate" or other similar words or statements that certain events "may" or "will" occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: Virtutone's retail services division and the benefits therefrom; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone's infrastructure; the market for telephony services. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law.

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



Contacts:
Virtutone Networks Inc.
Jason Allen
780-702-5777





Source: Marketwire


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