Datamarine to acquire 220MHz systems from SMR Advisory Group
Datamarine International, Mountlake Terrace, WA, has agreed to acquire eight 220MHz, five-channel Phase I systems in Washington and Oregon from SMR Advisory Group, a Texas limited-liability company.
The eight systems and attendant licenses will be acquired for about one million shares of Datamarine common stock, valued at $1 per share, plus warrants that have variable terms regarding price and quantity. The price will relate the exercise date to the date of issuance of the warrants. Included in the price of the systems are all of the associated base-station equipment and the current subscribers.
The acquisition is subject to due diligence, compliance with applicable FCC, federal and state securities laws, and the approval of the owners of each of the systems.
David Thompson, Datamarine president, said that this further acquisition of 220MHz spectrum is a reflection of the company’s growing confidence in the substantial market for low-cost voice and data dispatch service.
