EASTOWER WIRELESS SIGNS UMBRELLA SERVICE AGREEMENT WITH ONE OF THE WORLD’S LARGEST TOWER OPERATORS
BOCA RATON, Florida., June 20, 2022 /CNW/ – EasTower Wireless Inc.. (“East Tower” or the “Company”) (TSXV: ESTW), an American provider of next-generation wireless communications infrastructure specializing in the construction, installation and maintenance of 5G and 4G wireless systems, is pleased to announce that it has successfully closed a Master Service Agreement (“MSA”) with one of the world’s largest tower operators (the “Client”).
“We are pleased to announce the successful execution of an MSA with a leading telecommunications customer, placing Eastower as one of their approved subcontractors for future developments,” said Vlado P. Hreljanovic, CEO of EasTower. “In addition, the client has invited EasTower to support it in other mandates in three of its other rental markets, including Nashville, Louisvilleand Knoxvilleall in great condition Tennessee. We are very fortunate to have received such fantastic demand for our business at a time of global economic volatility and uncertainty. The largest capital market transaction this calendar year 2022 has been with a very large tower builder and bulge support bank for more than $2 billion. This is a great example of how the 5G market continues to weather the risks of inflation and potential economic recession and continues to grow despite the current market uncertainty. The 5G industry has the confidence behind long-term government spending policies that have allocated capital to developing their national wireless infrastructure.”
Mr. Hreljanovic continued, “EasTower continues to move forward and deliver quality 5G releases to the largest telecom and tower companies nationwide. United States. Our reputation for quality execution continues to resonate with major U.S. telcos and major tower companies as we plan further expansion in the Midwest through direct invitation from our valued customers with mandates to support growth. evolution in which we have positioned our company.
The size of the global 5G services market is expected to reach $1.67 trillion (United States) by 2030, registering a compound annual growth rate (CAGR) of 52% from 2022 to 2030. United States is expected to be a key driver of this global growth due to government initiatives investing directly in 5G infrastructure and growing domestic demand for higher-speed applications from institutional and residential consumers.
About EasTower Wireless Inc.
The Company, through its wholly owned subsidiary, EasTower Communications Inc., is an American provider of wireless infrastructure development and related services. The company specializes in building, installing, upgrading and maintaining next-generation wireless infrastructure systems, including 5G, 4G and small cell deployments, as well as first responder initiatives or FirstNet. The company’s diverse and industry-leading customer base includes major telecommunications providers, global original equipment manufacturers (OEMs), enterprises and federal government agencies. The Company currently operates in the state of florida and is focused on expanding into the southeastern Sunbelt states of the United States
For more information, please visit www.eastowerwireless.com
Certain statements contained in this press release constitute “forward-looking information” as that term is defined under applicable Canadian securities laws. The words “may”, “could”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions in connection with the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. These statements reflect the Company’s current beliefs and intentions with respect to future events, as well as current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to differ from those described herein, should one or more of these risks or uncertainties materialize. Examples of such risk factors include, but are not limited to: credit; market (including stocks, commodities, currencies and interest rates); liquidity; operational (including technology and infrastructure); reputation; Insurance; strategic; regulatory; legal; environmental; capital adequacy; general business and economic conditions in the regions where the Company operates; the Company’s ability to implement its key priorities, including business retention and strategic plans, and to attract, develop and retain key executives; the ability to implement business strategies and seize business opportunities; low profit market segments; disruptions or attacks (including cyberattacks) on the Company’s information technology, Internet, network access, or other voice or data communication systems or services; developments in various types of fraud or other criminal behavior to which the Company is exposed; failure by third parties to meet their obligations to the Company or its affiliates; the impact of new laws and regulations, changes or enforcement thereof; dependence on key suppliers; permitting and licensing in a highly regulated business; the challenging global litigation environment, including in the United States; increased competition; changes in exchange rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to continue operations; critical accounting estimates and changes to accounting standards, policies and methods used by the Company; the occurrence of catastrophic natural and unnatural events and claims resulting from such events; and risks related to COVID-19, including various recommendations, orders and measures by government authorities in an attempt to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolation, shelter-in-place and social media. remoteness, disruptions in markets, economic activity, financing, supply chains and sales channels, and deterioration in general economic conditions, including a possible national or global recession; as well as the risk factors discussed or referred to in the Company’s disclosure documents filed with the securities authorities of certain provinces of Canada and available at www.sedar.com. If any factor affects the Company in an unexpected way, or if the assumptions underlying the forward-looking information prove incorrect, the actual results or events could differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Further, the Company assumes no responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise the forward-looking information, except as required by applicable law.
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SOURCE EastTower Wireless Inc.
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