Mobilicity Announces Court Sanctioned Sale Process

TORONTO, Nov. 14, 2013 /CNW/ - Data & Audio-Visual Enterprises Holdings Inc. and its affiliates (collectively, Mobilicity) announce that the Ontario Superior Court of Justice (Commercial List) has approved the plan of Mobilicity and the Court-appointed monitor, Ernst & Young Inc. (the "Monitor"), to conduct certain procedures to market for sale all or substantially all of the business and assets or shares of Mobilicity (the "Sale Procedures"). 

The Sale Procedures contain certain deadlines, including a requirement that potential bidders deliver certain qualification information no later than 10:00 p.m. (ET) on December 2, 2013, and a requirement that qualified bidders submit final bids no later than 5:00 p.m. (ET) on December 9, 2013.

Details of the Sale Procedures, including the process for interested parties to request access to conduct due diligence, are available from the Monitor's website at www.ey.com/ca/mobilicity. 

About Mobilicity (DAVE Wireless)

Formerly known as Data & Audio-Visual Enterprises Wireless Inc. (DAVE Wireless), further information about Mobilicity can be found at www.mobilicity.ca.

SOURCE: Mobilicity

Inquiries regarding the Sale Procedures:

Canaccord Genuity
Mr. Michael Levin, Managing Director
E-Mail: [email protected]
Phone: [phone]
Fax: [phone]

Ernst & Young Inc., Court-appointed Monitor
Mr. Sajjad Mahmood, Vice President
E-Mail: [email protected]
Phone: [phone]
Fax: [phone]

Mobilicity:

[email protected], 647-707-7377

Joel Shaffer, Longview Communications
416-649-8006