EX-99.1
17
newulm080068_ex99-1.htm
PRESS RELEASE DATED JANUARY 2, 2008
NEW ULM TELECOM, INC. EXHIBIT 99.1 TO FORM 8-K DATED DECEMBER 31, 2007
Exhibit 99.1
NEWS RELEASE NEWS RELEASE NEWS RELEASE
FROM:
NU-Telecom
FOR RELEASE:
Immediate
27 N. Minnesota
New Ulm, MN 56073
CONTACT:
Bill Otis
Tele. 507-354-4111
NU-Telecom
507-354-4111
E-mail: billotis@nu-telcom.net
New Ulm Telecom, Inc. and Hutchinson Telephone Company Announce Anticipated Closing Date for Merger
January 2, 2008
New Ulm, MN
- New Ulm Telecom, Inc. ("New Ulm") (NULM.OB) and Hutchinson Telephone Company ("HTC") announced today that they received all the approvals for the closing of the merger agreement under which New Ulm will acquire Hutchinson Telephone Company. The transaction is expected to close on or before Friday, January 4, 2008. It is being structured as a reverse triangular merger under which a newly-formed subsidiary of New Ulm will merge into HTC at closing, with HTC continuing to operate as a subsidiary of New Ulm.
About New Ulm
New Ulm owns and operates incumbent local exchange carriers (ILECs) and a competitive local exchange carrier (CLEC) that provide, own and operate phone, video and internet services in a number of Minnesota and Iowa communities. New Ulm also sells and services cellular phones and accessories, customer premise equipment and transport operations. New Ulm also holds a 25.18% investment in FiberComm, LC, a CLEC based in Sioux City, Iowa and holds a 33.33% ownership interest in Hector Communications Corporation, which provides phone, video and internet services to a number of communities in Minnesota and Wisconsin.
Forward-Looking Statements
Statements about New Ulm's future prospects are forward-looking and, therefore, involve certain risks and uncertainties. These and other risk factors are discussed in New Ulm's Report on Form 10-K for the year ended December 31, 2006 and from time to time in its other filings with the Securities and Exchange Commission.
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EX - 99 . 1 17 newulm080068 _ ex99 - 1 . htm PRESS RELEASE DATED JANUARY 2 , 2008 NEW ULM TELECOM , INC . EXHIBIT 99 . 1 TO FORM 8 - K DATED DECEMBER 31 , 2007 Exhibit 99 . 1 NEWS RELEASE NEWS RELEASE NEWS RELEASE FROM : NU - Telecom FOR RELEASE : Immediate 27 N . Minnesota New Ulm , MN 56073 CONTACT : Bill Otis Tele . 507 - 354 - 4111 NU - Telecom 507 - 354 - 4111 E - mail : billotis@nu-telcom.net New Ulm Telecom , Inc . and Hutchinson Telephone Company Announce Anticipated Closing Date for Merger January 2 , 2008 New Ulm , MN - New Ulm Telecom , Inc . ( " New Ulm " ) ( NULM . OB ) and Hutchinson Telephone Company ( " HTC " ) announced today that they received all the approvals for the closing of the merger agreement under which New Ulm will acquire Hutchinson Telephone Company . The transaction is expected to close on or before Friday , January 4 , 2008 . It is being structured as a reverse triangular merger under which a newly - formed subsidiary of New Ulm will merge into HTC at closing , with HTC continuing to operate as a subsidiary of New Ulm . About New Ulm New Ulm owns and operates incumbent local exchange carriers ( ILECs ) and a competitive local exchange carrier ( CLEC ) that provide , own and operate phone , video and internet services in a number of Minnesota and Iowa communities . New Ulm also sells and services cellular phones and accessories , customer premise equipment and transport operations . New Ulm also holds a 25 . 18 % investment in FiberComm , LC , a CLEC based in Sioux City , Iowa and holds a 33 . 33 % ownership interest in Hector Communications Corporation , which provides phone , video and internet services to a number of communities in Minnesota and Wisconsin . Forward - Looking Statements Statements about New Ulm 's future prospects are forward - looking and , therefore , involve certain risks and uncertainties . These and other risk factors are discussed in New Ulm 's Report on Form 10 - K for the year ended December 31 , 2006 and from time to time in its other filings with the Securities and Exchange Commission . # # #
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