Moniker.com Brokers Two Multi-Million Dollar Domain Name Sales at T.R.A.F.F.I.C. NYC CreditCheck.com and Seniors.com Both Sold During the Auction
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TORONTO, June 19 /CNW/ - Tucows Inc. (AMEX:TCX, TSX:TC) today announced
that it has sold approximately 2,500 domain names from its portfolio of domain
names for US$3.0 million in a private transaction. Tucows may earn up to an
additional US$1.2 million if certain performance criteria are met. Any
additional payment will be payable in one year's time.
"This sale indicates some of the latent value of our domain name
portfolio," said Elliot Noss, President and CEO of Tucows Inc. "As I have
stated in the past, we will continue to be opportunistic with our domain name
assets. While, this transaction does contain revenue-generating assets, we
felt that the sale was appropriate. This transaction also provides us with an
opportunity to step back and evaluate some operating possibilities.
Accordingly, while we now believe our cash flow from operations for 2007 will
likely be at the top end of the US$10 million to US$12 million range, we do
not expect to be discussing any possible change in guidance until our next
conference call at the earliest."
This release may contain forward-looking statements, relating to the
Company's operations or to the environment in which it operates, which are
based on Tucows Inc.'s operations, estimates, forecasts and projections. These
statements are not guarantees of future performance and are subject to
important risks, uncertainties and assumptions concerning future conditions
that may ultimately prove to be inaccurate or differ materially from actual
future events or results. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in these
forward-looking statements. Consequently, investors should not place undue
reliance on these forward-looking statements, which are based on Tucows Inc.'s
current expectations, estimates, projections, beliefs and assumptions. These
forward-looking statements speak only as of the date of this presentation and
are based upon the information available to Tucows Inc. at this time. Tucows
Inc. disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
About Tucows
Tucows Inc. is the largest Internet services provider for hosting
companies and ISPs. Through our network of over 7,000 service providers around
the world we provide millions of email boxes and manage over seven million
domains. Tucows is an accredited registrar with ICANN (the Internet Corporate
for Assigned Names and Numbers). Tucows remains one of the most popular
software download sites on the Internet. For more information please visit:
http://about.tucows.com.
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