- Tower One Wireless (TO) has announced the company has closed an acquisition and settlement agreement
- The Vancouver wireless company will purchase from a minority shareholder all, shares of its subsidiary Evolution Technology which it does not already own
- The company paid US$30,000 in cash and issued an aggregate of 6,300,000 of its own common shares as part of the deal
- Shares had a deemed price of C$0.07875 per share for proceeds of $496,125
- Tower One is down 4.69 per cent, trading at $0.084 at 12:40 pm ET
Tower One Wireless (TO) has announced the company has closed an acquisition and settlement agreement.
The Vancouver wireless company will purchase from a minority shareholder all, shares of its subsidiary Evolution Technology which it does not already own.
The company paid US$30,000 in cash and issued an aggregate of 6,300,000 of its own common shares as part of the deal.
Shares had a deemed price of C$0.07875 per share for proceeds of $496,125.
The shares issued upon closing of the transaction are subject to a statutory hold period of four months and one day.
Tower One’s principal business is to build, own and operate multi-tenant wireless telecommunications infrastructure in Latin America.
The company leases space on its towers to mobile network operators.
Tower One is focused on the build to suit tower industry whereby a long-term lease is secured with a tenant prior to building a tower. The company operates in the three largest Spanish speaking countries in Latin America, Colombia, Mexico and Argentina with a combined population of approximately 220 million people.
Tower One is down 4.69 per cent, trading at $0.084 at 12:40 pm ET.
