AdvanceTC Limited Announces Xplore New Product Line Together With Acquisition of Australian Mobile Retail Chain
AdvanceTC Ltd (OTC:ATCLF) announced the launch of its Xplore(tm) Android multi-mode communicators, X7V and X7mini, during an event in Kuala Lumpur on March 20, 2023. The X7V offers cellular, satellite messaging, voice, and digital mobile radio connectivity, while the X7mini serves as a compact companion device. Additionally, the company signed an agreement to acquire Dr. Boom Communications, a retail chain, for AUD$12 million, which aims to enhance distribution in the Australian, New Zealand, and South Pacific markets. This acquisition is subject to legal and regulatory processes, and is expected to strengthen AdvanceTC’s market presence.
- Launch of Xplore(tm) Android communicators, X7V and X7mini, enhancing product line.
- Acquisition of Dr. Boom Communications for AUD$12 million will expand market access in Australia and beyond.
- Acquisition subject to legal and regulatory approvals, creating uncertainty in execution.
- Potential risks associated with market acceptance of new products and competition in the mobile application industry.
NEW YORK, NY, March 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – AdvanceTC Ltd (NSX:A88)(OTC:ATCLF) (‘AdvanceTC' or the ‘Company') - At an event held in M Resort & Hotel Kuala Lumpur on 20th March 2023, AdvanceTC Limited announced its latest range of Xplore(tm) Android multi-mode communicators: X7V and X7mini.
The X7V will come with multiple modes of connectivity including cellular, satellite messaging & voice, and digital mobile radio. The X7mini is a smaller display and form factor companion device with the same connectivity.
A signing ceremony, witnessed by both the press and public guests, as well as representatives from government agencies (MOSTI , MIGHT , TALENT CORP & MIMOS) was also held at the event to mark the acquisition of Dr. Boom Communications, a mobile devices retail chain store to sell, market and support AdvanceTC’s current and upcoming products in the Australian markets. The total value of the acquisition for all 13 outlets amounts to AUD
"We are confident Dr. Boom's well established network of stores in Australia will enable us to quickly gain market share in the Australian, New Zealand and South Pacific markets," says CP Loi, Chief Executive Officer of AdvanceTC Limited.
"We are excited to be working with AdvanceTC in marketing and supporting their innovative products and services, leading their initiative to bring space connectivity to everyone in the Australasia region," says Gary Green, representing Dr. Boom Communications.
About AdvanceTC Limited
AdvanceTC is a premier company specializing in the design, development and commercialization of high tech mobile wireless computing and telecommunication devices since 2005. AdvanceTC W3, a full Windows® OS microcomputer integrated with cellular telephony capabilities and the Xplore X7 the world's first android smartphone with satellite messaging and emergency service, fully designed and developed using its own patented proprietary technology and engineering innovation.
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For further information please contact:
Name: CP Loi / Chief Executive Officer
Email: loicp@advancetc.com
Website: www.advancetc.com
Forward Looking Information
This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of AdvanceTC. Forward looking statements are often identified by terms such as "will", "may", "should", "intends", "anticipates", "expects", "plans" and similar expressions. All statements other than statements of historical fact, included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the Proposed Transaction will not be completed due to, among other things, failure to execute definitive documentation, failure to complete satisfactory due diligence, failure to receive the approval of the NSX and the risk that AdvanceTC will not be successful due to, among other things, general risks relating to the mobile application industry, failure of AdvanceTC to gain market acceptance and potential challenges to the intellectual property utilized in AdvanceTC. There can be no assurance that any forward looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The Company cannot guarantee that any forward looking statement will materialize and the reader is cautioned not to place undue reliance on any forward looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Australian securities laws.
FAQ
What products did AdvanceTC launch on March 20, 2023?
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