Toronto, ON – May 13, 2010 – As previously announced on April 1, 2010, Redline Communications Group Inc. (the “Company”) did not file, by the deadline of March 31, 2010, its audited financial statements for the fiscal year ended December 31, 2009, related management’s discussion and analysis, annual information form and CEO and CFO certificates. On April 7, 2010 the Ontario Securities Commission (“OSC”) and the Autorité Des Marchés Financiers (“AMF”) issued a temporary management cease trade order (a “MCTO”) under National Policy 12-203 which prohibits trading in securities of the Company by certain insiders of the Company.
This news release is the fourth bi-weekly default status report under National Policy 12-203 of the Canadian Securities Administrators. Since announcing the original notice of default on March 15, 2010, filing its first default status report on April 1, 2010, filing its second default status report on April 15, 2010 and filing its third default status report on April 29, 2010, there have not been any material changes to the information contained therein, nor any failure by the Company to fulfill its intentions stated therein, and there are no additional defaults or anticipated defaults subsequent thereto. The Company intends to file its next default status report on May 27, 2010.
About Redline Communications
Redline Communications (www.rdlcom.com) is a leading manufacturer of specialized broadband wireless systems used to cost-effectively deploy distributed applications and services. Since 1999, Redline systems have been used by local and state governments to extend their public safety networks; by oil and gas companies to connect their digital oil fields; by telecom service providers to bring dedicated Internet access to business users, and by the military to rapidly deploy secure networks. Redline’s award-winning broadband radio systems wirelessly enable distributed applications – private networks, video surveillance, business access, backhaul, and data acquisition – without compromising performance. Redline delivers high speed, real-time connectivity - anywhere, anytime. Redline products are marketed and supported locally through a network of certified value-added resellers in the Americas, the Middle East, and Africa.NOTE: All registered and unregistered trademarks mentioned in this release are the property of their respective owners.