Vecima sells radio spectrum to Inukshuk for $4 million; Inukshuk drops lawsuit

VICTORIA, B.C. – Vecima Networks Inc. announced Monday that Inukshuk Wireless Partnership has agreed to drop the lawsuit filed against the company last December after Vecima sold some of its 3.5 GHz radio spectrum licenses to Inukshuk for $4 million.Inukshuk alleged in its legal proceedings that Vecima broke a previous agreement to sell some of its radio spectrum to Inukshuk. As part of the sale, Inukshuk has agreed to dismiss the legal action filed against Vecima in the Ontario Superior Court.In a July 2012 press release Vecima estimated the remaining value of its radio spectrum was between $10 to $15...