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MediaG3 Completes Definitive Agreement on LOI to Secure Funding for Wireless Broadband Build-outs
Nov 10, 2011 (04:11 PM EST)
BOISE, Idaho, Nov. 10, 2011 /PRNewswire/ -- MediaG3, Inc. (OTCPK: MDGC), a provider of wireless broadband solutions has completed the Letter Of Intent announced on Sept. 20, 2011 with Competitive Companies, Inc. (OTCBB: CCOP) through a definitive agreement known as "The Wytec Purchase Agreement".
The Wytec Purchase Agreement will provide funding to MediaG3 through the purchase of Wytec International, Inc., owner of five U.S. "world class" patents directly involved in the development of carrier grade mobile broadband delivery. "This agreement combines MediaG3's knowledge and application of technology, 'proprietary' network design, engineering, software and deployment with CCI's experience in wireless technology, funding, management, back-office, customer and tech support," said CEO, Val Westergard.
Westergard went on to say: "This agreement provides MediaG3 with funding, retains use of patented technology, restores shareholder confidence and sets the stage to grow revenue quickly as we deploy 'proprietary' networks throughout the USA. This agreement creates a complimentary and mutually beneficial infusion of talent and technology, bringing much greater potential value to both companies and their shareholders. We are excited about the supportive and inter-dependent relationship we now have with William Gray and his team at CCI."
MediaG3's network is on in selected areas in Boise and they expect to be offering 4G+ services to the public by February 1, 2012. Wireless Wisconsin expects to be offering the service in Eau Claire by March 1, 2012. Both operations plan to be utilizing "carrier grade" authentication software enabling full integration for most fixed and mobile devices. Thus both companies expect to have rapid revenue development within months instead of years.
About MediaG3, Inc.
MediaG3(TM) Inc., (MDGC), develops and delivers wireless broadband technology products and services for today's fixed and mobile customers. MediaG3 provides wireless broadband Internet access and Internet telephone throughout the US, under the Imperial Wireless and iWiFi brands. MediaG3 will continue to utilize the five key U. S. patents under the Wytec name and offer wireless broadband technology, technology licensing and equipment under Wytec and Wytec "Next Generation" brands. MediaG3 is headquartered in Boise Idaho. For more information, or to register to receive updates, please visit their corporate website: http://www.mediag3.com
About Competitive Companies, Inc.
Competitive Companies, Inc. is a Nevada corporation with offices in San Antonio, Texas and Eau Clair, Wisconsin. The company began operations in 1998 to provide telecommunication services, including data, voice and video to multiple dwelling units in tier-one and tier-two markets, and later included wireless broadband services in rural markets. The utilization of Wytec's patent technology is expected to have a substantial impact on CCI's broadband services and revenue potential as it begins licensing its' use across the U.S. For more information, or to register to receive updates, please visit their corporate website: http://www.cci-us.com.
This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. Since forward-looking statements address future conditions, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
SOURCE MediaG3, Inc.