Craig sells interests in Norway and New Zealand

WINNIPEG - Craig Wireless Systems is selling half of its spectrum rights in Norway and New Zealand to Everest Wireless Partners I LP, a U.S.-based venture capital firm, for US $5.75 million. Once all government and regulatory approvals have been obtained, expected to be by March 31, the licenses will be transferred into two new wholly-owned subsidiary companies, both of which are to be incorporated under the laws of the Cayman Islands. "We are very pleased to announce this joint venture with Everest," said T. Boyd Craig, Craig's co-CEO, in the press release. "The investment by Everest Wireless in our Norway...