Exhibit 99.2
FOR IMMEDIATE RELEASE
NEWS RELEASE
Wireless Ventures, Inc. completes agreement to acquire
The Wireless Stock Xchange, Inc.
New York, NY - September 29, 2000 - Wireless Ventures, Inc. (OTCBB:WLSV) today
announced that it has signed a definitive purchase agreement for the acquisition
of all of the shares of The Wireless Stock Xchange, Inc. ("TWSX") which is a
private Delaware corporation. Under the terms of the agreement, the shareholders
of TWSX will receive 33,000,000 shares of common stock of Wireless Ventures
issued from treasury, representing approximately 67% of the issued and
outstanding common shares. TWSX shall continue to operate as a wholly owned
subsidiary of Wireless Ventures. Upon Closing, which shall be upon the delivery
of share certificates and other related documents, the former shareholders of
TWSX shall have the right to nominate two directors to the board of Wireless
Ventures, Inc.
The Wireless Stock Xchange, Inc. is a development stage company founded to
provide a seamless global supply of refurbished cellular phones and other
wireless appliances through a global re-valuing program in conjunction with the
International Vision Calls Foundation. The International Vision Calls Foundation
is a non-profit foundation which plans to collaborate with the Christoffel
Blindenmission in Bensheim, Germany, in support of the VISION 2020 - The Right
to Sight campaign. VISION 2020 - The Right to Sight is a joint initiative of the
International Agency for the Prevention of Blindness (IAPB) and the World Health
Organization (WHO) to eliminate avoidable blindness by the year 2020.
The International Vision Calls Foundation is creating an international network
for the collection of wireless surplus assets, beginning with the collection of
deactivated cellular phones. The proceeds are used for the Foundation's blind
humanitarian mandate including the support of Vision 2020. TWSX has an exclusive
agreement with the International Vision Calls Foundation to purchase the
collected wireless products, refurbish and resell them, mainly to emerging
economies to help seed their wireless infrastructures. TWSX, headquartered in
Toronto, Canada is in the process of establishing an international refurbishing,
distribution, and sales network. The International Vision Calls Foundation is a
Canadian non-profit organization which is establishing affiliated non-profit
organizations in Europe and other international markets for the support of the
Phones for Sight campaign.
This new hybrid of charity and capitalism is being called "Venture
Philanthropy". The world's blind community, developing nations, the environment
and the Wireless Ventures shareholders all stand to benefit from this new
business concept.
Wireless Ventures, Inc. is a Delaware corporation whose shares are quoted on
the NASD's over-the-counter Bulletin Board.
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For further information contact:
Angelo MacDonald, investor relations
416-566-5864
