RENO, Nev., Nov. 8, 2005 (PRIMEZONE) -- ICM Telecommunications, Inc. (Pink Sheets:ICMH) today said that its mid-September announcement of a revenue sharing strategic alliance with NTELX, an international network provider to the telecom industry, was incorrectly stated. The company said it actually has entered into a revenue sharing agreement with Claridon Holdings, a Canton, Ohio-based telecommunications services company.
As part of the agreement, ICM intends to invest in the privately held Claridon to enable network expansion into multiple international markets. ICM also said it is considering purchasing its own tier one carrier switch to route traffic between the U.S. and international markets.
"In the end," said President & CEO Doug Hamby, "we expect this revenue sharing arrangement will offer substantial return for our shareholders over the longer term."
As to the basic fundamentals, Hamby said, "we still believe that the real growth in communications will be in international markets, where VoIP technology will help propel a worldwide boom over the next decade. During that period, we intend to be a major participant in that growth."
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. Such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.