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Statement by the Catalyst Capital Group on Proposed Mobilicity Restructuring

TORONTO, ONTARIO — (Marketwired) — 04/26/13 — The Catalyst Capital Group is encouraged to see that today-s court orders maintain the parties- substantive rights. However, Catalyst is concerned that it is hard to see how the proposed plans would provide the capital required for Mobilicity to grow its business, acquire spectrum or provide viable, sustainable services to Canadian consumers. In fact, the conditions on the proposals may result in the opposite outcome.

Catalyst notes the following:

Catalyst wishes to see Mobilicity restructured in a way that fully respects its existing stakeholder rights and interests and that leads to a successful and viable major mobile player in Canada. Catalyst intends to take an active role in the restructuring with a view to achieving that result.

Contacts:
Argyle Communications
Daniel Tisch
416-968-7311, extension 223