SMC Entertainment Signs Letter of Intent to Acquire FiberSKY Networks, Inc.
San Francisco, CA -- July 15, 2019 -- InvestorsHub NewsWire -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of wireless communications services, digital content, and media distribution solutions, is pleased to announce the execution of a Letter of Intent to acquire 100% of Milwaukee, Wisconsin-based FiberSKY Networks, Inc. (“FiberSKY”) for equity in SMC. The acquisition is expected to close upon completion of the due diligence process.
FiberSKY provides advanced wireless communications and broadband services to a number of disciplines including wireless ATMs and media event ticketing. FiberSKY has built a solid foundation of clients and revenue stream with strong renewal rates and growth opportunities.
“SMC is committed to expanding its inventory of technologies to broaden our business plan and expedite revenue growth,” said Rick Bjorklund, President and CEO of SMC. “We will continue to look for complementary opportunities to integrate our portfolio of companies.”
Ted Lasser, President and CEO of FiberSKY, a 40-year industry veteran stated, “We are very excited at the prospect of joining the SMC team. There are organic synergies between our two companies and with SMC’s help we will accelerate our growth and market reach.”
About SMC Entertainment, Inc.
SMC Entertainment Inc. is a provider of wireless communications services, digital content, and media distribution solutions. For more information, please visit us at www.smcemedia.com.
About FiberSKY Networks, Inc.
FiberSKY is an initiative-based integrated information technology services and systems. FiberSKY’s primarily design concept involves the Digital Dome designs of a hybrid Internet of Things (IoT)-based broadband network system called FiberSKY™. This unique proprietary design is capable of utilizing multiple technologies for the enhancement of deploying the “last mile” of advanced high speed services to residential and commercial customers. The FiberSKY system incorporates multiple technologies such as power lines, fiber optics, licensed and unlicensed wireless frequencies and existing telco owned broadband back haul networks to produce an efficient and scalable broadband connection. For more information, please visit us at www.fiberskynetworks.com.
SMC Entertainment, Inc.
Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.