PISCATAWAY, N.J., Aug. 26, 2019 (GLOBE NEWSWIRE) -- Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced the closing date for the acquisition on all of the equity of American Network, Inc. a New York CLEC. Hammer obtained all of the regulatory approvals and the acquisition will close on September 1, 2019. “Continuing to expand the footprint of our platform will be key to our success in rolling out our Everything Wireless strategy in the United States,” said Erik Levitt, Hammer’s CEO. Hammer announced earlier this year that it will re-enter the U.S. market in Huntsville Alabama, and has been investigating its implementation options.
Hammer already has substantial client assets in its underlying platform in New York and New Jersey, where its subsidiaries hold CLEC licenses.
Hammer acquired all of the equity of American Network is exchange for common stock and payables associated with the expenses of the transaction. The acquisition is non-dilutive to common shareholders.
About Hammer
Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation. For more information contact Frank Pena at fpena@hammerfiber.com.