TORONTO, March 13, 2002 (PRIMEZONE) -- The Board of Directors of Koala International Wireless Inc. (OTCBB:KIWI) is pleased to announce today the appointment of Michael Johnston to the positions of President, Chief Marketing Officer, and Director, effective immediately.
As one of the co-founders of Koala, Michael Johnston served most recently in the capacity of Chief Business Development Officer. He is recognized as one of North America's leading technology, entertainment, and telecommunications integrators.
Mr. Johnston states, "I'm very pleased to accept these appointments, and I am looking forward to the opportunity to make further announcements regarding the acquisition of key intellectual property in the weeks ahead."
Michael Johnston has also held senior positions in business affairs and development with Silicon Graphics Inc. and a number of emerging technology companies. Past associations and clients include IMAX Inc., Paramount Viacom Famous Players, Billboard Live, and DreamWorks SKG.
NEW PRODUCT DEVELOPMENTS
Koala International Wireless Inc. has been notified by Bolton Pass Electronic Inc. of Knowlton, Quebec, exclusive license developers of the KIWI, that a fully functioning designer's prototype will be available for demonstration prior to the end of March 2002. Further details pending.
ABOUT KOALA
Koala International Wireless Inc. is in the process of developing a virtual private cellular data network (the "Koala Network") and a credit and debit processing business serviced by a wireless point of sale and ATM device manufactured by an international provider. It intends to use that network to deliver services to monthly subscribers by way of a proprietary handheld wireless personal network communication device (the "KIWI"), and later with third-party devices using Koala technology. Koala is thus positioned to become a leader in wireless network infrastructure and wireless technology. Former associations with the vitamin industry (as Kettle River Group) are no longer applicable.
Certain statements in this press release constitute "forward-looking statements" relating to Koala International Wireless Inc, within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding future events, financial performance and operating results, our business strategy and our financing plans are forward-looking statements. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements.