Tower One to Commence Construction of Additional Towers in Colombia
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, June 19, 2017 (GLOBE NEWSWIRE) -- Tower One
Wireless Corp (CSE:TO) (OTCMKTS:TOWTF) (Frankfurt:A2DKQ4) ("Tower One" or the
"Company") announces that one of its Colombia subsidiaries has received
construction approval from a Mobile Network Operator ("MNO") to build 10
additional towers. Those towers, once complete, will add to the Company's
current towers.
The Company is expecting to commence construction within the next 30 days.
Those towers, once completed, will be the first new set of towers to be built
this year in Colombia. The entire tower industry has witnessed a slowdown with
average annual BTS volume, pending completion of the Colombian 700MHz and
1900MHz spectrum auction. Once the auction complete, expected in the latter
half of 2017, the Company expects robust demand for towers.
Further, one of the MNO's affiliate tower company has decided to cease further
tower builds in Colombia. As a result we expect additional news on further
tower search rings in the next 60 days.
Alex Ochoa, CEO of Tower One, states: "I am very pleased with the significant
developments we have achieved in a short period of time. This is testament to
the country expertise and reputation that our senior management team has in
Colombia, resulting from their track record of success in the Colombia tower
industry. I expect that the Company will be able to achieve strong growth both
through tower builds and the acquisition of existing tower portfolios over the
next year."
Further, the Company is pleased to announce that is proud to announce that Tower
One has been added to the CSE Composite Index (the "Index"). According to the
CSE, the Index was launched "to measure the performance of equity securities
listed on the CSE."
Alex Ochoa sates: "We are pleased to have been added to the CSE Composite Index
and that investors recognize the value we are building as the only small cap
entry in the global cell tower space."
About Tower One Wireless Corp
Tower One Wireless was founded in 2015 with a mission to own and operate high-
quality cellular network infrastructure sites in South American markets that are
experiencing strong growth.
Tower One Wireless focuses primarily on building towers in municipalities where
there is limited or no cellular coverage. This enhances the probability of
multiple carriers sharing the tower and minimizes competitive risk. Tower One
Wireless has assembled a decorated management team which has top-tier cellular
development experience with one of South America's largest tower developers.
Tower One Wireless is currently focused on 4G & 5G LTE infrastructure expansion
in Latin America.
We seek Safe Harbor.
The CSE has not reviewed, and does not accept responsibility for the adequacy or
accuracy of the contents of this news release.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein in the United States. The
securities described herein have not been registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state
securities law and may not be offered or sold in the "United States", as such
term is defined in Regulation S promulgated under the U.S. Securities Act,
unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration requirements is available.
FORWARD LOOKING STATEMENTS
Certain statements in this release are forward-looking statements, which include
regulatory approvals and other matters. Forward-looking statements consist of
statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of forwarding looking wording
such as "may", "expect", "estimate", "anticipate", "intend", "believe" and
"continue" or the negative thereof or similar variations. Readers are cautioned
not to place undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which they are based
will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general and
specific, that contribute to the possibility that the predictions, estimates,
forecasts, projections and other forward looking statements will not occur.
Forward-looking statement are necessarily based upon a number of factors that,
if untrue, could cause the actual results, performances or achievements of the
Company to be materially different from future results, performances or
achievements express or implied by such statements. These assumptions, risks and
uncertainties include, among other things, the state of the economy in general
and capital markets in particular, present and future business strategies, the
environment in which the Company will operate in the future, and other factors,
many of which are beyond the control of the Company. While such estimates and
assumptions are considered reasonable by the management of the Company, they are
inherently subject to significant business, economic, competitive and regulatory
uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties,
which could cause actual events, level of activity, performance or results to
differ materially from those reflected in the forward-looking statements,
including, without limitation: (i) that environmental laws and regulations may
become more onerous; (ii) that the Company may not be able to raise additional
funds when necessary; (iii) risks related to accidents, equipment breakdowns,
labour disputes or other unanticipated difficulties with or interruptions with
the business; (v) competition; (iv) the uncertainty of profitability based upon
the Company's history of losses; (xiii) risks related to environmental
regulation and liability; (vi) risks associated with failure to maintain
community acceptance, agreements and permissions (generally referred to as
"social licence"); (vii) risks relating to obtaining and maintaining all
necessary government permits, approvals and authorizations relating to the
continued operation and development of the Company's projects; (viii) risks
related to the outcome of legal actions; (ix) political and regulatory risks;
(x) risks related to current global financial conditions; and (xi) other risks
and uncertainties related to the Company's prospects, assets and business
strategy. Important factors that could cause actual results to differ materially
from the Company's expectations include, litigation, global economic climate,
loss of key employees and consultants, additional funding requirements, changes
in laws, competition, and failure of counterparties to perform their contractual
obligations. Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. In particular, this news
release contains forward- looking information relating to the company receiving
addition search circles giving the company a run rate of over 100 towers per
year. Investors are cautioned that forward-looking statements are not guarantees
of future performance or events and, accordingly are cautioned not to put undue
reliance on forward-looking statements due to the inherent uncertainty of such
statements.
The forward-looking statements contained in this news release are made as of the
date of this news release. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters
discussed above.
For further information, please contact:
Robert "Nick" Horsley, Director
nick(at)toweronewireless.com
(604) 559-8051
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tower One Wireless via GlobeNewswire
Datum: 19.06.2017 - 15:00 Uhr
Sprache: Deutsch
News-ID 548607
Anzahl Zeichen: 9332
contact information:
Town:
VANCOUVER, BC
Kategorie:
Business News
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