O2 Secure Wireless, Inc. Signs Joint Venture Agreement for Wireless
Tower Development
ST. AUGUSTINE, Fla.,
Nov. 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
SOURCE O2 Secure Wireless, Inc.