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Tower One Receives Master Lease Agreement From Avantel Colombia
VANCOUVER, British Columbia, July 31, 2018 (GLOBE NEWSWIRE) -- TOWER ONE WIRELESS CORP. (CSE:TO) (OTCQB:TOWTF) (Frankfurt:1P3N) (“Tower One” or the “Company”) announces it has signed a Master Lease Agreement (the ”MLA”) with Avantel (WWW.AVANTEL.CO) a Mobile Network Operator in Colombia and Latin America. Under the terms of the MLA, Tower One will provide Avantel with the use of its Colombian wireless tower infrastructure over a 10 year fixed term contract.
In addition to the Avantel MLA the company has received over 50 new search rings. The company has already completed site acquisition on 20 of the 50 new search rings. To date, the company has completed 12 towers in Colombia with three (3) active co-locations hosting multiple carriers.
Alejandro Ochoa, CEO of Tower One, states: “We continue to build our portfolio of Master Lease Agreements throughout South America. The Avantel agreement is a great addition to our current customer base and it’s also an indication that the Colombia wireless market is becoming more active. Growth in the Company has recently been driven by our Argentinian acquisitions; however our long term focus is on diversification throughout multiple countries in the region including our active operations in Mexico.”
The Company now has a total of forty two (42) completed towers throughout Argentina and Colombia with over twelve (12) co-locations.
About Tower One Wireless Corp.
Tower One builds, owns, and leases its portfolio of wireless infrastructure assets to wireless carriers on long term contracts. Tower One is operated by a team of telecom and finance professionals with a long history in the telecom and wireless infrastructure business and is one of a few publicly traded small cap companies in the wireless infrastructure space. Tower One Wireless is currently focused on 4G & 5G LTE infrastructure expansion in Latin America.
The CSE has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
FORWARD LOOKING STATEMENTS
Certain statements in this release are forward-looking statements, which include regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contributes to the possibility that the predictions, estimates, forecasts, projections and other forward looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. There can be no assurance that the proposed Transaction will be completed or, if completed, will be successful.