WiLAN to Explore Strategic Alternatives
OTTAWA, CANADA -- (Marketwired) -- 10/30/13 -- Wi-LAN Inc. ("WiLAN"
or the "Company") (TSX:WIN)(NASDAQ:WILN) today announced that its
Board of Directors has initiated a process to explore and evaluate a
broad range of strategic alternatives for the Company to enhance
The Company strongly believes in its current business strategy but
does not believe that its current share price accurately reflects its
strong balance sheet, the value of its signed license agreements, its
business prospects or the residual value of its broad intellectual
Strategic alternatives to be considered may include changes to the
Company's dividend policy or other forms of return of capital to
shareholders, the acquisition or disposition of assets, joint
ventures, the sale of the Company, alternative operating models or
continuing with the current business plan, among other potential
Canaccord Genuity is serving as financial advisor to the Company and
Norton Rose Fulbright Canada LLP is serving as legal advisors.
There can be no assurance that this strategic review process will
result in the completion of any transaction or other alternative. The
Company has not set a timetable for completion of the review process,
and it does not intend to comment further regarding the review
process unless a specific transaction or other alternative is
approved by the Board of Directors, the review process is concluded
or it is otherwise determined that further disclosure is appropriate
or required by law.
WiLAN, founded in 1992, is a leading technology innovation and
licensing company. WiLAN has licensed its intellectual property to
over 270 companies worldwide. Inventions in our portfolio have been
licensed by companies that manufacture or sell a wide range of
communication and consumer electronics products including 3G and 4G
handsets, Wi-Fi-enabled laptops, Wi-Fi and broadband routers, xDSL
infrastructure equipment, cellular base stations and digital TV
receivers. WiLAN has a large and growing portfolio of more than 3,000
issued or pending patents. For more information: www.wilan.com.
This news release contains forward-looking statements and
ation within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and other United States and
Canadian securities laws. Such statements include, but are not
limited to, expectations regarding the timing and outcome of the
strategic review process, including realizing the full potential of
any strategic alternatives, and whether or not any such alternatives
will be implemented. Furthermore, the phrases "to explore and
evaluate", "to enhance shareholder value", "believes", "does not
believe", "to be considered, "may include", "changes to", "the
acquisition or disposition", "the sale", "continuing with", "no
assurance", will result", "does not intend", "is approved", "is
concluded", "is appropriate or required" and similar terms and
phrases are intended to identify certain forward-looking statements.
Forward-looking statements and forward-looking information are based
on estimates and assumptions made by WiLAN in light of its experience
and its perception of historical trends, current conditions and
expected future developments, as well as other factors that WiLAN
believes are appropriate in the circumstances. Many factors could
cause WiLAN's actual performance or achievements to differ materially
from those expressed or implied by the forward-looking statements or
forward-looking information. Such factors include, without
limitation, the risks described in WiLAN's March 7, 2013 annual
information form for the year ended December 31, 2012 (the "AIF").
Copies of the AIF may be obtained at www.sedar.com or www.sec.gov.
WiLAN recommends that readers review and consider all of these risk
factors and notes that readers should not place undue reliance on any
of WiLAN's forward-looking statements. WiLAN has no intention and
undertakes no obligation to update or revise any forward-looking
statements or forward-looking information, whether as a result of new
information, future events or otherwise, except as required by law.
All trademarks and brands mentioned in this release are the property
of their respective owners.
Director, Investor Relations
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