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Internet America Inc cancels proposed merger with KeyOn Communications Holdings Inc

Telecomworldwire, Feb 25, 2009

TELECOMWORLDWIRE-25 February 2009-Internet America Inc cancels proposed merger with KeyOn Communications Holdings Inc(C)1994-2009 M2 COMMUNICATIONS LTD http://www.m2.com

Internet America Inc (OTCBB: GEEK.OB), an Internet service provider, reported yesterday (24 February) that it has terminated its proposed merger with KeyOn Communications Holdings Inc.

The company said that it cancelled the merger agreement on 19 February because KeyOn was unable to materially comply with certain covenants and conditions to closing. Details were not disclosed.

The merger agreement between Internet America and KeyOn was signed in November 2008.

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Internet America said that it is pursuing its right to a termination fee and expenses as per the merger agreement.

((Comments on this story may be sent to tww.feedback@m2.com))

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