BALLASALLA, Isle of Man, April 10, 2006 (PRIMEZONE) -- CallKey Group Ltd. ("CallKey") is a global telecom operator providing leading-edge mobile and Internet-telephony services to a growing and diverse customer base at present in +35 countries -- and rapidly expanding. CallKey's central "hub" architecture effectively bridges traditional telecom (fixed-line and mobile) and Internet (VoIP) technologies. This proprietary technology allows CallKey to differentiate itself in a crowded marketplace and compete in the highest growth sectors of international telephony. CallKey became a wholly owned subsidiary of a public company, Dungannon International, Inc., as of March 15, 2006. Dungannon International, Inc. (Pink Sheets:DNGN) is in the process of changing its name to CallKey International, Inc. and also changing its symbol to reflect the new name.
Dungannon International, Inc. is issuing shares of its common stock to holders of ordinary shares of CallKey at a rate of 3.21 shares of Dungannon International, Inc. common stock for each ordinary share of CallKey Options and warrants to purchase ordinary shares of CallKey will also be converted at the same rate into options and warrants to purchase common stock of Dungannon International, Inc.
Following the merger, there will be 14,648,146 shares outstanding and warrants and options to purchase 1,301,854 shares outstanding. The shareholders of CallKey will own 84.47% of Dungannon International, Inc.'s outstanding securities. Dungannon International, Inc.'s shareholders will own 1.11% of Dungannon International, Inc.'s outstanding securities, and third parties that are providing financing and consulting services to the post-merger company will own 14.42% of Dungannon International, Inc.'s outstanding securities.
Michael Dobbs-Higginson, Richard Freeman, Niles Helmboldt, David Rector and Kurt Roosen were appointed as directors of Dungannon International, Inc. effective as of the closing of the merger.
About CallKey
Dungannon International, Inc., through its subsidiary, CallKey Group Ltd., is based in the Isle of Man and provides low-cost wholesale communications using proprietary as well as traditional technologies. Unlike most competitors, CallKey's calling system permits its clients to use both cell phone and land lines to make calls worldwide on a discounted basis. More information is available about CallKey at www.callkey.com.
Safe Harbor Statement
Statements in this news release about CallKey's future expectations, including: the advantages of our products and services, anticipated competitive advantages and all other statements in this release, other than historical facts, are forward-looking statements. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as new technologies developed by other companies, market share garnered by competitors, ability to maintain vendor relationships, potential volume limitations of our system, and the potential for increased regulation.