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Management Reduces Outstanding Common Stock by an Additional 92 Million Shares

/EIN News/ -- LONGWOOD, Fla., April 25, 2018 (GLOBE NEWSWIRE) -- Spectrum Global Solutions Receives Over $1.5 Million in New Contract Awards -- Spectrum Global Solutions, Inc. (OTC:SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network solutions to the service provider (carrier) and corporate enterprise markets, has received over $1.5 Million in new contract awards. These profession service contracts include the inspection and analysis of towers and subsequent repair of the structures as well as project staffing for a tier 1 carrier. This work has already commenced and the revenue will be realized in Q2 through Q3 of 2018.   

Separately, the Company announced a further reduction of outstanding Common Stock by retiring to treasury an additional 92 million shares.  The total reduction in the last few weeks has been over 210 Million Shares, nearly half the total issued and outstanding.

Roger Ponder, CEO said, "We continue to see an increase in client orders for the pre-construction services necessary to support future small cell densification, distributed antenna systems (DAS) and 5G wireless technology projects and investigation and maintenance of existing telecommunication structures.   We anticipate continued growth during 2018 as carrier and enterprise demand increases to support new technology and prepare structures for those deployments." 

Mr. Ponder further stated: the reduction in Common Stock outstanding reduces dilution thereby creating immediate value for our shareholders. 

About Spectrum Global Solutions, Inc.:

Spectrum Global Solutions operates through its subsidiaries AW Solutions, ADEX Corp and Mantra Energy Alternatives. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean.

The Company’s subsidiary Mantra Energy Alternatives develops electrochemical technologies designed to make profitable the reducing of greenhouse gas emissions.  For more information about the Company and its technologies visit the Company’s public filings at SEC.gov.

Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

CONTACT:
Investor Relations
Spectrum Global Solutions
561-672-7068

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