The Offering included the effective conversion of
The net proceeds of the Offering will be used by the Company for working capital.
In connection with the issue and sale of the Units pursuant to the Offering, the Company paid registered dealers (i) cash commissions equal to
All securities issued pursuant to the Offering will be subject to a Canadian four-month hold period.
The Company, through its wholly owned subsidiary,
For more information, please visit www.eastowerwireless.com.
Neither the
The securities offered in the Offering have not been, and will not be, registered under the
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, are intended to identify forward-looking information, including, without limitation: the use of proceeds of the Offering. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation: risks associated with existing, new or changing governmental regulations; ability of the Company to obtain and maintain necessary permits, licenses and approvals; ability of the Company to obtain debt or equity financing to support its operations; availability of funds and re-sources to pursue operations; risks associated with debt; potential liability for actions of employees, con-tractors and consultants; competition; the ability to implement business strategies and pursue business opportunities; ability to retain and attract customers; estimation and assumption of costs associated with providing services under master service agreements; credit risk; seasonality of demand for the Company's services; variability of operating costs, including fuel, equipment and contractors; risks associated with failure to comply with applicable regulations; hazards and liability associated with the Company's operations; ability to recruit and retain employees and contractors; changes in the telecommunications industry and the Company's ability to adapt; lack of sufficient insurance coverage; risks inherent in use and retention of subcontractors; market fluctuations (including equity, commodity, foreign exchange and interest rate); liquidity risk; reputational risk; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities and to attract, develop and retain key executives; cyber, privacy and information technology-related risks; counter-party risks; risks related to pandemics and endemics, including COVID-19; the occurrence of natural and unnatural catastrophic events and claims or disruptions resulting from such events; litigation risks; as well as those risk factors discussed or referred to in the Company's disclosure documents filed with the securities regulatory authorities in certain provinces of
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