11:53 AM EST - Craig Wireless Systems Ltd. : Craig Wireless Systems Ltd. announced that it has signed an agreement with Everest Wireless Partners I LP, to sell a one-half interest in the licenses for spectrum rights held by the Company in Norway and New Zealand for aggregate consideration of US$5.75 million or approximately $7.04 million. It is a condition of the sale that Craig Wireless and Everest receive all required government and regulatory approvals by March 31, 2009. In order to give effect to the sale, once all requisite approvals have been obtained, the licenses will be transferred into two new wholly-owned subsidiary companies of the Company, both of which are to be incorporated under the laws of the Cayman Islands. Craig Wireless Systems Ltd.
shares T.CWG are trading even at $0.11.
