From: partydave1
8:30 AM
Msg: #of 26
MIAMI, FLORIDA and TORONTO, ONTARIO, Jun 29, 2006 (CCNMatthews via COMTEX) -- Yak Communications Inc. (NASDAQ: YAKC), a provider of legacy, dial around, and VoIP telephony services to residential and business customers, announced today that the Independent Committee of its Board of Directors has engaged the investment banking firm of Orion Securities Inc. to advise the Company with regard to its various strategic alternatives, including the potential sale of the Company to maximize shareholder value.
"Our Company has strong cash flows in its core operations, strong brand recognition, a significant loyal customer base, and a net cash position of over $10 million. This process is designed to try to deliver the value of the Company to our shareholders", said Charles Zwebner, Chairman of the Board and Chief Executive Officer.
