FORT SASKATCHEWAN, ALBERTA--(Marketwire - Oct. 28, 2011) - Virtutone Networks Inc (TSX VENTURE:VFX) (Virtutone), is pleased to announce that it has acquired certain assets of Transcendent Global Networks LLC.(TGN). TGN is Virtutone's US distributor of telecommunication products and services.
Virtutone acquired certain assets of TGN for an aggregate consideration of 600,000 common shares of Virtutone, having a deemed issue price of $0.13 per share.