Sanwire Corporation Secures Credit Facility for USDA-RUS Community Connect Grant Applications
July 10 2013 - 08:30AM
Marketwired
Sanwire Corporation ("Sanwire" or the "Company") (OTCQB: SNWR), a
global provider of wireless communications services and data
solutions, is pleased to announce it has secured a credit facility
that will enable Sanwire's wholly owned subsidiary Aero Networks
("Aero") to submit additional broadband infrastructure project
applications under the United States Department of Agriculture,
Rural Utilities Services ("USDA-RUS") Community Connect grant
program.
With this credit facility, Aero can now bid for additional
government projects valued in excess of $4,000,000, including the
recently announced $1,200,000 exclusive agreement with the Oso
Vista Ranch Project of the Ramah Navajo Nation. Part of the
USDA-RUS Community Connect application approval process is for the
applicants to arrange for 15% of the total project costs in
matching funds.
"We are very pleased to have established this credit facility
which will provide Sanwire the flexibility and capital to secure
additional revenue projects for Aero," said Naiel Kanno, President
and CEO of Sanwire. "This credit facility creates new business
opportunities for Sanwire and affords us the opportunity to compete
for larger bids, which we hope to convert into higher gross revenue
in the near and longer term."
About United States Department of Agriculture,
Rural Utilities Services The USDA-RUS Community Connect
program offers an exciting opportunity for needy communities to
receive broadband services, build sustainable infrastructure, and
to receive education and training on Internet usage and
applications. Most of the grant recipient communities receive
enormous benefits from the USDA-RUS program resulting in
sustainable education, healthcare, medical and public safety
advances for the community.
About Sanwire Corporation Sanwire is a
global provider of wireless communications services, data
solutions, and application software/hardware. Sanwire's vertically
integrated portfolio of solutions target a diverse array of
enterprises and multiple disciplines with one goal in mind --
deliver efficient and reliable communications. For more
information, visit www.sanwire.net. Sanwire has two wholly owned
subsidiaries in its current portfolio, iPTerra Technologies and
Aero Networks. iPTerra is a designer, developer, manufacturer and
marketer of a real-time 2-way wireless and/or wireline
communications, and mine-safety solution for the global mining and
industrial industry (www.ipterra.net). Aero Networks provides
advanced telecommunications and broadband services to rural
communities and Native American tribes with focus on public safety,
education and healthcare sectors. Aero is a pioneer in delivering
4G/LTE, TV White Space, and advanced wireless technologies
(www.aeronetworks.net).
Certain statements included in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to, among other things, plans and timing for the
introduction or enhancement of our services and products,
statements about future market conditions, supply and demand
conditions, and other expectations, intentions and plans contained
in this press release that are not historical fact and involve
risks and uncertainties. Our expectations regarding future revenues
depend upon our ability to develop and supply products and services
that meet defined specifications. When used in this press release,
the words "plan," "expect," "believe," and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations.
Contact: Gross Capital, Inc. Barry Gross (361) 949-4999
ir@sanwire.net
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