WESTMINSTER, Colo., July 1, 2009 (GLOBE NEWSWIRE) -- NexHorizon Communications, Inc. (Pink Sheets:NXHZ) today announced that it has executed a Letter of Intent to form a Mexican owned subsidiary to acquire the assets of Cable California, S.A. de C.V. providing cable television and high speed Internet services to residents in Tijuana, Mexico, and providing a gateway into Central America. The 750 MHz fiber network is currently serving subscribers with voice, video and data in the Eastern suburbs of Tijuana. NexHorizon is building 1200 miles of fiber for its cable systems in Chula Vista and National City, California, on the Mexican border, adjacent to Tijuana, Mexico, creating the opportunity to combine the two networks to deliver faster Internet speeds, and Inter-country digital phone and data service. The Tijuana concession has approximately 15 years remaining on a 30 year renewable concession.
Cable California, an entity organized under the laws of the United States of Mexico was granted a concession from the Mexican government to construct and operate one of Latin America's largest fiber-optic networks, a 750-mhz network providing high-speed Internet, telephony, data and multi-channel cable television to residents and businesses.
Calvin D. Smiley, Sr., NexHorizon Communications CEO, commented, "NexHorizon has an opportunity to expand its footprint, and be able to offer bi-lingual services to a much wider customer base. Rural communities, both in the U.S. and Latin America need and want our ultra-modern communication services, and our business plan contemplates being the leader in this field."
About NexHorizon Communications, Inc.
NexHorizon Communications, Inc. (NXHZ) is focused on delivering broadband solutions to rural communities through strategic acquisitions and mergers. On January 1, 2008 NexHorizon Communications acquired the assets of Chula Vista Cable, LLC and the stock of National City Cable, Inc., which we renamed NexHorizon Broadband of Southern CA, Inc. ('NBSC'). In October 2008, NexHorizon Communications executed a definitive agreement to acquire certain assets and subscribers from Story Communications, passing more than 10,000 homes in the rural communities of Oklahoma. NexHorizon is focused on delivering a true "triple-play" of digital video, High-Speed data, Voice over Internet Protocol (VoIP), and other related broadband solutions. The Company plans to acquire additional rural cable television systems and synergistic technology to assist in executing its Strategic Business Plan.
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.