Hammer Fiber Optics Holdings Corp. (HMMR)

[sweet crude]

News Out + Sprint merger approved

The Sprint T-Mobile merger gets approval, which will open door to wave of telecom acquisitions. In addition news out on funding


Hammer Fiber Optics Holdings Corp Announces the S-1 Registration Statement

PISCATAWAY, N.J., Feb. 11, 2020 (GLOBE NEWSWIRE) -- Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced today that the S-1 Registration Statement required to exercise its options under the Peak One Opportunity Fund equity line of credit is now effective. Hammer and Peak One signed a definitive agreement for up to $10 million on October 31, 2019.

“We are very pleased to be working with Peak One on this facility. We are looking forward to continuing our implementation of our Everything Wireless Strategy,” said Erik Levitt, Hammer’s CEO.

As it pursued its filing, Hammer completed the rollout of its 2-way P2P (Person-to-Person) SMS network, which allows business and residential subscribers to send texts worldwide, with planned direct routes into African markets such as Kenya and Nigeria. Hammer recently completed its first wholesale voice routes into Caribbean markets including Dominica and St. Vincent, with permanent interconnections nearing completion in several markets. In the United States Hammer has continued to pursue development of the market in Huntsville, Alabama.

“We are actively selling our OTT networks and will be deriving more revenue from that platform in coming quarters,” said Kristen Vasicek, Hammer’s COO, who is responsible for all marketing activities and new product development.

“Hammer continues to move forward with its strategy,” said Michael Cothill, Hammer’s Chairman. “The unique capabilities of our team will allow us to see the results of exciting projects globally,” added Cothill.