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AMX follows the dot com charge

FOLLOWING the long line of WA resource companies moving into the telecommunications arena, AMX Resources has agreed to purchase 100 per cent of the issued capital of Semaphore Telecommunications.

Semaphore holds 52 government issued licences to operate Wireless Local Loop and Internet access equipment in the 3.4 gigahertz spectrum across all major capital cities and major regional areas in Australia.

Using modern wireless technology, AMX plans to use the licences to provide those areas with high-speed Internet access and data transfer at reduced prices.

The 3.4 gigahertz spectrum is being used in Europe and North America for WLL services as an alternative to wireless telephony and data services.

The average web page takes eighteen seconds to download using a normal telephone line but can be downloaded in 0.1 seconds using the wireless technology with a mean delay of less than 0.4 seconds.

AMX plans to have the service up and running within six months of completing the $3 million transaction with Semaphore.

Completion of the agreement is subject to due diligence.

The infrastructure required to support the services, such as antennas and towers, will be installed using existing cellular sites on a shared basis to reduce capital investment.

AMX intends to raise about $2.6 million towards the acquisition of Semaphore through the placement of 13.1 million ordinary shares at 20 cents per share.

The majority of the AMX shares will be placed with European-based investors who will help the company reach its growth objectives.

The balance of the placement will be issued to Australian investors by means of a prospectus to be lodged with the Australian Securities and Investments Commission.

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