VANCOUVER, British Columbia, Oct. 5, 2005 (PRIMEZONE) -- Cinema Internet Networks Inc. (d.b.a. "CinemaWorks") (TSX-V:CWK), a Canadian provider of Internet equipment and services, has signed a consulting agreement with Robert Fillet of Fillet Capital Corporation to develop and lead the Company's merger and acquisition strategy. Under this agreement, Mr. Fillet will develop a plan and strategy to merge or acquire private Internet service providers serving the hospitality and multi-dwelling (MDU) markets. Small private Internet service providers serving primarily business customers will also be candidates for merger or acquisition. The Company's goal of this effort will be to build its stock equity to meet the qualifications of NASDAQ.
"Mr Fillet's background in M&A activities is long and remarkable. His leadership in these activities ranges from the small to among the largest mergers in U.S. business history, namely PepsiCo and Frito-Lay. With Mr. Fillet's guidance and leadership in this area, we feel confident in the Company's ability to meet NASDAQ qualifications over the next twelve to eighteen months," said Bill Massey, CEO of CinemaWorks.
Cinema Internet Networks Inc. (d.b.a. CinemaWorks) is a Canadian-based public company that provides high speed Internet services to approximately 15,000 hotels rooms in its network of hotels and university residences throughout North America. The Company's business strategy is to deliver value-added high-speed (broadband) Internet equipment, support services, including content. The Company provides wired and wireless equipment along with operational support services. In addition, the Company expects to facilitate voice, data and video content (e.g., IP TV) over the Internet.
Fillet Capital Corporation has operated continuously as an investment banking/management consulting firm since 1953 and has participated in raising substantial funds and leading the m/a activities of seventeen companies through various broker/dealers. In addition, the company has served such companies as PepsiCo Corp., Western Union Company and Faberge Inc. Robert Fillet was responsible for the establishment and operation of the U.S./China Chamber of Commerce and served as its head from 1973 until 1977. Serving in World War II, Mr. Fillet was awarded the Distinguished Flying Cross.
For further information, please contact the investor relations representative of the company at 604-681-2179 or visit our website at www.cinemaworks.com. For overseas and USA investors, please contact bmassey@cinemaworks.com
On behalf of the Board
"Bill Massey"
President & Director
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