Contact:
Craig
Cook, Chief Administrative Officer
Cardinal
Communications, Inc.
303-285-5348
FOR
IMMEDIATE RELEASE: NEWS
April
25,
2006 OTCBB: CDNC
Cardinal
Communications Responds To Strong Business Growth By
Adding Veteran Business
And Financial Leaders To Board Of Directors
BROOMFIELD,
Colo., April 25, 2006 - Cardinal Communications, Inc. (OTC Bulletin Board:
CDNC), a provider of voice, video and high-speed broadband communications
services, and a specialized developer of residential real estate (the
“Company”), today announced that it had named four additional members to its
Board of Directors: Joseph M. Durnford, Robert T. Hale, Robert R. Searls, and
Kerry D. Briggs.
According
to Dick Wilson, Chairman of the Company’s Board of Directors, “we have all been
extremely impressed with the remarkable turn-around executed by current
management. We believe that the Company is now poised to extend its
unprecedented growth and, if we are to continue to provide effective guidance,
the Board of directors must also grow. The individuals we have added to our
Board will allow the Company to take advantage of exceptional knowledge and
experience in the telecommunication, real estate, and financial industries.”
The
background of the four individuals is as follows:
Joseph
M.
Durnford has over 19 years experience in corporate finance, accounting, business
strategy, and mergers and acquisitions. Mr. Durnford is the Founder and CEO
of
JD Ford & Company, a specialized investment bank that has been directly
responsible for completing numerous middle market merger and acquisition
transactions, and raised capital through a variety debt and equity financing
structures. During his career Mr. Durnford has participated in corporate finance
and merger and acquisition transactions with values exceeding $1 billion, in
a
variety of industries including manufacturing, software development, real estate
development, construction, financial services, and consumer products. He is
a
Certified Public Accountant and serves on the corporate boards of Thomas
Industries, which he chairs, Compass Bank of Colorado, and Mallfinder Networks.
Robert
T.
Hale brings more than 35 years of business expertise to the Board, the majority
of which involved the telecommunications industry. Mr. Hale is currently the
Chairman of Granite Telecommunications a successful telecom and software
services company. Granite Telecommunications, a profitable $280,000,000 company,
provides local phone services, telecom expense reporting and premier dial tone
support services to over 15,000 customers with over 120,000 locations and
490,000 telephone lines throughout the country. A graduate of Tufts University
1959 with a degree in economics, Mr. Hale has served on audit and compensation
committees of various boards of directors. Mr. Hale co-founded Network Plus,
Inc., and Ascent. He is former Chairman and Director of the merged
Comptel/Ascent Board, is on the Board of the Harvard School of Public Health,
and has served on the Board for The Lown Cardiovascular Research Foundation
for
the past eight years. Mr. Hale has also been Director of Sigecom, LLC and
Utilicom Networks.
Robert
R.
Searls is a successful real estate developer and has formed a series of
partnerships and corporations for the purpose of purchasing or developing a
variety of real estate projects including commercial retail, office, self
storage, multi-family and residential subdivisions. A former Navy and Eastern
Airlines pilot Mr. Searls has been a Series 7 broker and negotiated the
acquisition and sale of several hundred million dollars in real estate in
Colorado and Florida.
Kerry
D.
Briggs is President and Owner of Briggs Financial Services a specialty line
insurance agency serving the banking and credit union marketplace. Mr. Briggs
has over 20 years of experience in the finance and banking industry. Mr. Briggs
also is a successful real estate developer building and owning several apartment
and condominium complexes in Utah, Arizona, and Kansas. Mr. Briggs served as
a
pilot in the United States Air Force Reserve for 28 years retiring in 2000
as a
Colonel.
Ed
Garneau, CEO of Cardinal Communications, Inc. stated “we are very pleased to
have the addition of these four Board members. Their experience and knowledge
of
telecommunication, real estate development, acquisitions, and investment banking
will be a tremendous benefit to Cardinal Communications, Inc., as we continue
to
grow our business footprint both here in the United States and abroad.”
All
four
new Board members will join the Board immediately.
About
Cardinal Communications, Inc.
Cardinal
Communications operates a suite of vertically integrated businesses that provide
both bundled digital communications services (voice, video and high-speed
Internet) and high-quality real estate to the residential marketplace. The
Company’s expertise in communication infrastructure and turnkey residential
development allows Cardinal to capitalize on growing demand among homebuyers
for
modern residences that are pre-equipped with a range of digital communications
options. The Company is also partnering with other developers that seek
Cardinal’s expertise in designing, building and operating residential
communication networks that will deliver long-term revenue
opportunities.
Cardinal
also operates Get-A-Phone, a provider of specialized local and long-distance
calling programs in select U.S. markets. Based in Broomfield, Colo., publicly
traded Cardinal trades on the Bulletin Board under the symbol “CDNC.” For more
information, visit the Company’s website at www.cardinalcomms.com.
SAFE
HARBOR STATEMENT: Some information in this release is forward looking. These
forward-looking statements may be affected by the risks and uncertainties in
Cardinal Communications and its subsidiaries and divisions. This information
is
qualified in its entirety by cautionary statements and risk factors disclosure
contained in certain of Cardinal Communications' Securities and Exchange
Commission filings. Cardinal Communications wishes to caution readers that
certain important factors may have affected and could in the future affect
its
actual results and could cause actual results for subsequent periods to differ
materially from those expressed in any forward-looking statement made by or
on
behalf of Cardinal Communications. There are many factors that will determine
whether Cardinal Communications will be successful in its endeavors, including,
without limitation, access to adequate capital and consumer acceptance of its
telecommunications service offerings. Cardinal Communications undertakes no
obligation to update forward-looking statements to reflect events or
circumstances after the date hereof.
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