Spectrum Global Solutions (OTCQB: SGSI), a single-source provider of next-generation communications network and professional services to telecommunications and enterprise markets, has released an update regarding the company’s previously announced merger with High Wire Networks Inc. In addition, SGSI also announced the appointment of a new CEO: Mark Porter. In the announcement, the company noted that all but one of the closing conditions outlined in the merger have been either satisfied or waived; the last closing condition is regarding a pending Paycheck Protection Program Loan Forgiveness Application that has been submitted by one of Spectrum’s subsidiaries. Completing the merger before the application has been approved could jeopardize the forgiveness and impact SGSI’s 2021 P&L statement. The application was submitted in strict compliance with existing rules and regulations, and the company anticipates forgiveness in the near future. “As we near the next phase of our journey, the Board of Directors has asked that Mark Porter lead Spectrum Global Solutions as its new CEO, as we work towards achieving a listing on a national exchange,” said Spectrum Global Solutions chairman Roger Ponder in the press release. “We are confident in Mark and his outstanding team as they work towards Spectrum’s continued success.”
To view the full press release, visit https://ibn.fm/lTlob
About Spectrum Global Solutions Inc.
Spectrum Global Solutions 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 Caribbean. For more information about the company, please visit 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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