Spectrum Global Solutions (OTCQB: SGSI), a single-source provider of next-generation communications network and professional services to telecommunications and enterprise markets, today announced that it has completed its merger with High Wire Networks Inc. According to the update, the closing of the previously announced merger was delayed as the company waited for PPP forgiveness from the SBA on nearly $2.7 million of debt currently on Spectrum’s balance sheet. The debt forgiveness will reflect in quarterly financial statements for period ending June 30. Spectrum will now move forward with rebranding itself with the High Wire Networks name and, subject to satisfaction of listing qualifications, continue preparations for its intended up-listing to the NASDAQ. “This is very exciting news for the company and our shareholders,” said CEO Mark Porter. “While the SBA might have delayed our closing, we have already begun to leverage the synergies of our companies and accelerate our growth trajectory. Our additional acquisition pipeline will help us build even faster.”
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About Spectrum Global Solutions Inc.
Spectrum operates through its subsidiaries ADEX Corp., Tropical Communications Inc. and AW Solutions Puerto Rico LLC. The company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico and the Caribbean. For more information about Spectrum and its technologies, visit the company’s public filings at www.SEC.gov or its website at www.SpectrumGlobalSolutions.com.
NOTE TO INVESTORS: The latest news and updates relating to SGSI are available in the company’s newsroom at http://ibn.fm/SGSI
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