ATLANTA – i2Telecom (OTCBB:ITUI) says it has signed a memorandum of understanding for a strategic joint venture with Raed A.H. Rajab of Kuwait who will invest $9 million to fund expansion of the company’s operations into several international markets.

The joint venture will establish wholly-owned subsidiaries in each country and transfer exclusive rights to the company’s technology to that country in exchange for the Capital Commitment.

The company says i2Telecom’s proprietary platform can easily be integrated within a combination of hardware, software and cellular phones for next-generation global telecommunications solutions.

Raed A.H. Rajab said in a statement, “We see this as an opportunity to make an investment in mobile VoIP technology that can provide an above average return on our capital.”

On the Web: www.i2telecom.com

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