O2 Secure Wireless Inc. Signs Joint Venture Agreement
November 29 2012 - 7:58AM
OTC Markets
O2 Secure Wireless Inc. Signs Joint Venture
Agreement
with Private
Investment Group for Wireless Tower Development
ST. AUGUSTINE, FL., November 29, 2012/PRNewswire/ O2 Secure
Wireless, Inc. (Pink Sheets: OTOW) is pleased to announce it has
executed a joint venture (JV) agreement with a Private Investment
Group from Texas. This
JV will execute on a long-standing initiative to build out and
develop O2 Secure Wireless tower facilities.
The JV is structured as a long-term financing partnership that places O2 Secure
Wireless in the position to execute on the development of our
leased wireless tower facilities
and will also open the door to the acquisition of additional
wireless facilities without the need to reallocate funds from
existing corporate projects.
The JV agreement is structured to create an equity position for the
investment group in the tower projects and, as a result,
immediately increases the bottom line value of the assets for
O2.
O2 is currently examining the overall project plan of this effort
and is determining which tower sites to begin with and the start
date thereof.
Locations and timing are being weighed against ability to execute
and the desire to minimize any compromise to the current capital
structure. Terms of
the JV agreement ensure that funds are raised and utilized
according to the best interest of O2 and give O2 the full control
and discretion to strategically develop the locations that will be
most beneficial over the long term. The first year potential income
to O2 is estimated at $2.5 million, given the current climate
utilizing the proposed investment schedule.
“We are pleased to
have this funding agreement to facilitate the construction of the
tower sites we have already leased. It will allow the company to
expand to other sites that we have not been able to secure without
the proper capital structuring being in place.” Stated Val Kazia, CEO of O2 Secure
Wireless. “In
addition to this excellent news, I want to make it clear to
shareholders that our stock currently has no “chill” in effect on
it from the Depository Trust Company, and any information that you
hear contrary to that is not accurate.”
About O2 Secure Wireless:
O2 Secure Wireless is currently developing
numerous wireless tower facilities in the U.S. O2 Secure Wireless
is also instrumental in the development of wireless broadband
communication services domestically. Under a recent merger with
Earthcom Service Inc., the Company is currently being structured to
provide affordable flat rate pre-paid wireless services in
developing countries internationally, specifically the Dominican
Republic.
Safe Harbor Act:
This release may contain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company's annual report.
For more information visit our website at
http://o2securewireless.com
or contact
Investor Relations at: 855-222-0211
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