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NexHorizon Communications Updates Purchase Agreement for Cable Systems Acquisition
BROOMFIELD, Colo.-(Business Wire)-January 29, 2008 - NexHorizon Communications, Inc. (OTCBB:NXHZ) today announced that it has renegotiated and executed new agreements under revised terms to acquire the assets of Chula Vista Cable, Ltd. and the stock of National City Cable, Inc. to be consistent with its financing. The company had previously announced its intentions to acquire the entities in May of 2007.
Upon consummation of the transaction, NexHorizon will immediately upgrade the network infrastructure to enable the company to launch a full triple play bundle to increase channel capacity to 120 channels, increase bandwidth for High-speed Internet as well as digital voice services that will enable customers to have unlimited calling privileges throughout North America.
The combined cable systems pass more then 40,000 homes in the greater San Diego, California metropolitan area. The Systems currently provide video and High-speed services to residents and businesses in the immediate areas.
It is anticipated that the transaction will close within the next sixty days.
About NexHorizon Communications, Inc.
NexHorizon Communications, Inc. (OTCBB:NXHZ) is focused on delivering broadband solutions to rural communities through strategic acquisitions and mergers accretive to its shareholders. The Company's strategic business plan targets rural cable television system providers and synergistic cable technologies to consolidate and upgrade; resulting in increased bandwidth, improved reliability and customer service satisfaction building value for its shareholders. NexHorizon is focused on delivering a true "triple-play" of digital video, High-Speed data, Voice over Internet Protocol (VoIP), and other advanced broadband solutions.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by NexHorizon Communications, Inc. (NexHorizon) may differ materially from these statements due to a number of factors. NexHorizon assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
