O2 Secure Wireless Announces One Hundred Million Dollar Letter of Intent to Establish a Wireless Network Infrastructure Througho
March 24 2011 - 7:20AM
Marketwired
O2 Secure Wireless, Inc. (PINKSHEETS: OTOW)
announces that the Company has entered into the preliminary stage
of securing funding to build and deliver Wireless Cellular,
Internet, television and home phone service throughout the entire
region of the Dominican Republic.
Ark Capital Ventures has expressed an interest in funding the
Company up to 100 Million US dollars. They have initiated the due
diligence process and are committed to putting forth the Company's
best efforts to secure a commitment thereafter.
According to the terms of the Letter of Intent, Ark Capital
Ventures has proposed its commitment of 100 Million US dollars to
develop the project to saturate the Dominican Republic with State
of the Art LTE technology contingent on the collateral agreement to
include a first position lien on the licenses, equipment, and
contracts. Further developments will be announced as they
transpire.
It was recently announced that the Company's Chief Executive
Officer, Val Kazia has returned his personal 500 Million Shares
back into the Company's treasury.
By retiring the O2 Wireless shares, it's the Company's objective
to substantially refine the Company's capitalization structure and
position O2 Wireless' structure to more accurately represent the
Company's commitment to becoming a key player in rural broadband
communications; particularly in underserved territories, like the
Dominican Republic.
About O2 Secure Wireless: O2 Secure
Wireless is a Company that is currently developing numerous
wireless tower facilities in the U.S. The Company 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.
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:
Gibraltan Financial (407)830-9777
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