Facey Telcom Limited has  now completed its

merger with Oceanic Communications Limited (OCL) and received a private equity

investment from Portland Private Equity.

Combined the transactions will create an integrated

logistics, distribution, electronic distribution and channel management

business spanning the Caribbean, Central America and Asia Pacific and provide

significant growth capital to facilitate continued expansion.

Oceanic

Communications Limited was founded in 2007 as a joint venture between Facey

Group Limited, Facey Telecom’s parent company, and Oceanic Holdings

International Limited (OHIL). OCL provides logistics, procurement,

distribution, electronic distribution and channel management services in

markets across Asia Pacific including New Zealand, Papua New Guinea, Myanmar,

Tonga, Samoa, Vanuatu and Fiji. As a result of the merger, Facey Telecom will

integrate OCL’s business.

Portland Private Equity (Portland) is a private equity fund management company currently focused on private equity growth opportunities in the Caribbean, Central America, and Colombia through its management of the AIC Caribbean Fund and its successor, Portland Caribbean Fund II. Portland has completed a private equity investment in Facey Telecom the proceeds of which will be used to provide growth capital for several key strategic initiatives across its business. Following Portland’s investment, Facey Telecom will be owned jointly by Facey Group, OHIL and Portland.

Facey Telecom is pleased to announce the appointment of ex- Digicel executive Jason Corrigan as the Chief Executive Officer of Facey Telecom. Jason previously served as the Chief Operating Officer for the Caribbean for the PBS Group. Niall O’Brien, CEO of Facey Group, will now also assume the position of Vice Chairman of Facey Telecom. John Edmund, previously the Finance Director of OCL, will join Facey Telecom as the Chief Financial Officer.

In

speaking about the transaction P.B. Scott Chairman and CEO of the Musson Group

of Companies and Chairman of Facey Telecom remarked, “Facey Telecom’s merger

with OCL creates a large, multi-region logistics, electronic distribution and

channel management platform. We are pleased to have Portland Private Equity

join us as a partner as we work with our expanded leadership team to capture

the many growth opportunities in front of us.”