EasTower Wireless (TSXV:ESTW), a US-based provider of next generation wireless communications infrastructure specializing in the construction, installation, and maintenance of 5G and 4G wireless telecommunication networks, has announced a non-brokered private placement. The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million units priced at $0.05 per unit. The company specializes in the construction, installation, upgrading, and maintenance of next generation wireless infrastructure networks, including rapidly growing 5G, current 4G and small cell deployments as well as the first responder or FirstNet initiative.
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EasTower Wireless (TSXV:ESTW) has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million units priced at $0.05 per unit.
The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.10 for 24 months, subject to an acceleration clause.
The shares, which began trading on March 29th, following a qualifying transaction with a CPC, are currently trading at $0.045.
Founded in 2015, the company, through its wholly owned subsidiary, EasTower Communications Inc., is a provider of wireless infrastructure network build-out and related services within America.
Currently focused on Florida, the company has plans in place to expand into additional southeastern and southwestern states.
The company specializes in the construction, installation, upgrading, and maintenance of next generation wireless infrastructure networks, including rapidly growing 5G, current 4G and small cell deployments as well as the first responder or FirstNet initiative.
FirstNet, a new Public Safety Communications Network, is designed to revolutionize how first responders and public service agencies communicate and coordinate activities.
The FirstNet buildout across the U.S. is one of the largest, although least known, infrastructure outlays in American history.
The company's diverse, top-tier customer base includes major telecom providers, global original equipment manufacturers, corporations and federal government agencies.
The company recently announced a Master Service Agreement with one of the largest tower operators in the world.
Vlado Hreljanovic, President and CEO, commented at that time: "EasTower continues to advance and provide quality 5G builds to the largest telecoms and tower companies in the United States. Our reputation for quality execution continues to resonate with the large US telcos and main tower companies as we anticipate further expansion into the Midwest through direct invitation from our valued clients with mandates to support the scalable growth that we have positioned our company to be in."
The global 5G service market size is estimated to reach US$1.67-trillion by 2030, registering a compound annual growth rate of 52 per cent from 2022 to 2030.
The United States is expected to be amongst the key drivers behind this global growth due to government initiatives
investing directly into 5G infrastructures and the rising domestic demand for higher data speed applications from both institutional and residential consumers.
For more information, please visit the company’s website at www.EasTowerWireless.com, contact Vlado Hreljanovic, CEO, 561-549-9070, or email wireless@eastower.com.
For investor relations email investor@EasTowerWireless.com
