ST. AUGUSTINE, Fla. , Sept. 18, 2012 /PRNewswire/ -- O2 Secure Wireless, Inc. (Pink Sheets: OTOW) is pleased to announce that a Memorandum of Understanding (MOU) has been signed that outlines both parties' intention to collaborate on the continued and expanded delivery of wireless broadband services within South America .

The MOU enables O2 Secure Wireless 60 days to evaluate and complete the Due Diligence process. Providing the due diligence processes returns positive data that is then appropriately evaluated and confirmed, O2 Secure Wireless would be taking a controlling interest in the operating cable company. The immediate company goal would be to expand current services, which includes include the immediate provisioning of Internet and home phone and an IPTV platform through an already well-established provider of these services. Mobile services utilizing the branded corporate phone will also be offered to complete the package. A final agreement is expected to be signed in December, 2012 following a thorough legal review the company legal resources.

"We welcome this opportunity to collaborate with this company and thereby expand our product offering and geographic coverage in the promising international market for Cable, Internet, and Telephone Service. By working with a company that is fully operational. This company not only has an established reputation and strong existing consumer base, it has forward-thinking management and up-to-date core infrastructure services. We are confident that the new arrangement will bring significant benefits for both parties and ultimately establish a solid presence in the territory for us," states Val Kazia , CEO of O2 Secure Wireless. "We are not releasing the name of the company that we are in negotiations with in order to respect Non-Disclosure agreements related to the due diligence process. Upon completion of the review, full disclosure will be provided by the appropriate means to close on the transaction."