| Virtual Universe Acquires Fiber Lines, Creating New Distribution Opportunities for Virtual Talker(TM), VoIP Technology
CALGARY, Aug. 25 /CNW/ - Virtual Universe Corporation (VRX:CDNX) today announced it will lease fiber optic lines from Total Telecom Fiber Inc., a subsidiary of Total Telecom Inc. (TTZ:CDNX). The fiber lines will extend along the recently announced fiber optic corridor from Edmonton to Fort St. John, British Columbia.
According to the agreement, Virtual Universe will receive an Indefeasible Right of Use (IRU) for an undisclosed number of fiber strands for an initial term of 10 years.
Calgary-based Virtual Universe intends to resell a portion of the fiber lines and use the remaining fiber to provide end-users with access to its Voice over Internet Protocol (VoIP) technology, Virtual Talker(TM), as well as other services.
"We have already signed a letter of intent to resell a significant portion of the fiber capacity," stated Lorn Becker, President of Virtual Universe. " With the completion of that agreement, Virtual Universe will essentially have 'free bandwidth' that it can use to distribute Virtual Talker(TM) services to end-users," he said.
Virtual Universe is negotiating with Application Service Providers (ASP) to package their services with Virtual Talker(TM) for distribution to end-users. These services may include high-speed Internet, automated help desk, video conferencing, unified messaging, software rental, automated purchasing and invoicing, downloading large video and music files, or distance education, using the patented Virtual Talker(TM) technology.
"Leasing the fiber lines from Total Telecom is a strategic move that will further the development of our technology," Mr. Becker stated. "The company will be looking at other similar opportunities in Canada."
The fiber optic corridor, between Edmonton and Fort St. John, BC, will be completed this year by Total Telecom.
Virtual Universe Corporation is a Canadian technology company focused on becoming a leader in Internet voice communications. It has developed unique, proprietary technology called Virtual Talker(TM), which allows multiple participants to simultaneously interact through real-time verbal conversations online.
Total Telecom Inc. provides design, construction, project management and maintenance of broadband communication systems. The corporation is a leader in turnkey Hybrid Fiber Coax (HFC) designs and has extensive experience in long-haul Fiber Optic Networks and Fiber Ring Topology.
Statements contained herein that are not historical facts, including but not limited to statements about the Companies' products, corporate identities and focuses, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward- looking statements made by the Companies' sales, marketing and support efforts.
"The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release"
For further information: Lorn Becker, President, Virtual Universe Corporation, (780) 465-5959, www.vu.com
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