Polar Wireless Enters into Exclusive Agreement for Distribution of its Breakthrough Roaming Chip in Pakistan and the United Arab Emirates
TORONTO, April 12 /PRNewswire/ - Polar Wireless Corp. (OTCBB: BCDI) (Frankfurt: 62o) is pleased to announce the entering into of an exclusive distribution agreement with Hasan Associates (Private) Limited ("HAL") of Karachi, Pakistan, pursuant to which HAL has been granted exclusive distribution rights for the Polar SIM in Pakistan and the United Arab Emirates.
HAL has a strong presence in both countries and will provide full marketing and distribution services to its existing territories. The multi-year contract is subject to minimum volumes and involves the sharing of SIM replenishment fees.
The Pakistani market has seen explosive growth going from approximately 300,000 mobile telephone users in 2000 to over 90 million today. According to TechLahore, the average Pakistani user recycles his phone every year at a cost of approximately US$100 and total cell phone spending exceeds US$2 billion annually. Cell phone usage in the UAE has reached 65% saturation of the population or approximately 2.3 million users with average use estimated between 3 and 4 hours daily. *
* Barwind, Jack A., Zayed University, Dubai
About Polar Wireless
The Company is a mobile virtual network operator (MVNO) that works in conjunction with established major mobile service providers. The Company's patent pending mobile solution will significantly reduce mobile roaming charges. The product is operable in 213 countries through partner carrier networks. This provides the first global network solution for mobile users to dramatically reduce roaming surcharges while allowing users to maintain their current mobile number, handset and carrier relationship.
Safe Harbor Statement
Except for statements of historical fact contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and may involve a number of risks and uncertainties. Forward-looking statements are based on information available to the Company's management as of the date hereof, and they involve judgments and estimates. Forward-looking statements include expressions such as "believe," "anticipate," "expect," "estimate," "intend," "may," "plan," "predict," "will," and similar terms and expressions and include but are not limited to, the ability of the Company to raise additional capital to finance its operating activities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of the Company to operate as a public company, the period of time during which its current liquidity will enable the Company to fund its operations, its ability to protect its proprietary information, the general economic and business environment and conditions, the volatility of the operating results and financial condition of the Company, the ability to attract and retain qualified senior management personnel and research and development staff of the Company, and other risks and uncertainties disclosed in the filings of the Company with the Securities and Exchange Commission.
SOURCE Polar Wireless Corp.
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