Wireless Ventures, Inc. Calls Off Acquisition Of The Wireless Stock Xchange, Inc

Business Wire, Oct 30, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 30, 2000

Wireless Ventures, Inc. (OTCBB:WLSV) today announced that it will not consummate the transactions contemplated under the Stock Purchase Agreement between Wireless Ventures and The Wireless Stock Xchange, Inc, among others as certain conditions required to close the transaction have not been met.

Mr. John Simmonds, CEO of Wireless Ventures, stated "Certain recent material events have raised concern as to the ability of the company to realize the potential of the business plan as originally contemplated. In lengthy discussions with the principals involved, we have been unable to resolve these issues. Accordingly, we will not be going forward with the original agreement."

Wireless Ventures, Inc. is a Delaware corporation whose shares are quoted on the NASD's over-the-counter Bulletin Board.