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Tower One Wireless Acquires Mexico Tower Company With AT&T Master Lease Agreement

http://markets.businessinsider.com/news/stocks/tower-one-to-acquire-mexican-tower-company-with-at-t-master-lease-agreement-1004616488

VANCOUVER, British Columbia, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Tower One Wireless Corp (CSE:TO) (OTCQB:TOWTF) (Frankfurt:1P3N) announced today it has signed a letter of intent (the “LOI”) to acquire a Mexican-based private tower company with a view to negotiating the terms of a definitive agreement in order to complete the acquisition of this Mexican-based tower company (the “Acquisition”).

The Mexican-based tower company, which owns, builds and leases cellular towers to the telecom industry in Mexico, includes a Master Lease Agreement (“MLA”) with AT&T permitting it to be granted direct Build-To-Suit (“BTS”) opportunities for AT&T.

Alex Ochoa, CEO, stated, “This acquisition will be a great addition to Tower One’s strategy of entering into multiple jurisdictions that offer consistent annual infrastructure growth. We will now have the opportunity to work with one of the global leaders AT&T which is expanding its worldwide business. Since going public in Q1 2017, we have initiated our expansion program into three countries.”

AT&T entered Mexico in 2015 by purchasing wireless operator Iusacell and the wireless assets of Nextel Mexico for a total of about $4.4 billion. Additionally, AT&T plans to invest as much as $3 billion to upgrade its network, improving LTE coverage to reach about 100 million users by 2018, up from around 51 million users currently.

Further details regarding the proposed Acquisition will be provided in a news release, if and when the parties enter into a definitive agreement.

About Tower One Wireless Corp.
Tower One builds, owns, and leases a portfolio of wireless infrastructure assets to wireless carriers on long term contracts. Tower One is one of a few publicly traded small cap companies in the tower and wireless infrastructure industry. Tower One is operated by a team of telecom and finance professionals with a long history in the telecom and wireless infrastructure business. At Management’s election 30 million shares issued to Tower One Management cannot be sold for three years. 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

For further information, please contact:
Robert “Nick” Horsley, Director
[e-mail]
[phone]