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Teliphone Corp. And Cascade Divide Enterprises, Inc. Announce Termination Of Negotiations Concerning Potential Acquisition Of Next Layer Inc.

Stocks in this article: TLPH

VANCOUVER, British Columbia, May 8, 2013 (GLOBE NEWSWIRE) -- Vancouver-based Teliphone Corp. (OTCQB:TLPH), one of the world's local digital telecommunications companies, and Cascade Divide Enterprises, Inc. announced today that they have agreed to not proceed with the potential acquisition by Teliphone Corp. of Next Layer Inc. from Cascade Divide Enterprises, Inc.

About Teliphone Corp. / Teliphone Navigata-Westel Inc.

From its origin in 1957 as BC Rail Telecom, to its evolution into Teliphone Navigata-Westel, the company, with over 100 employees and over $40 million in annualized sales, it is now one of the largest independent facilities-based Competitive Local Exchange Carriers (CLEC) in Canada. The company provides voice, data, broadband Internet, IT support, Cloud computing, Co-location data centres and IPTV service across Canada. Teliphone services carriers, business, government and residential customers on a national network which includes a wireless backhaul network, a trans-Canada SONET fibre optic network and multiple CLEC/ILEC mutual CO facilities. Teliphone also operates a US network and its voice and IPTV services are available in 47 countries.

Forward-Looking Statements

This press release includes "forward-looking statements" as defined by the SEC. All statements, other than statements of historical fact, included herein that address activities, events or developments that Teliphone Corp expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of the proposed acquisition, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. Except as required by law, Teliphone Corp does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Lawry Trevor-Deutsch
         Senior Vice President, Corporate Affairs
         Teliphone Corp.
         Tel: +1 604 990 2000

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