NetworkNewsBreaks – Spectrum Global Solutions In
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Posted On: 03/02/2021 4:23:30 PM
NetworkNewsBreaks – Spectrum Global Solutions Inc. (SGSI) Announces Update Regarding Upcoming Merger, Appoints New CEO
Spectrum Global Solutions (OTCQB: SGSI), a single-source provider of next-generation communications network and professional services to telecommunications and enterprise markets, has released an update regarding the company’s previously announced merger with High Wire Networks Inc. In addition, SGSI also announced the appointment of a new CEO: Mark Porter. In the announcement, the company noted that all but one of the closing conditions outlined in the merger have been either satisfied or waived; the last closing condition is regarding a pending Paycheck Protection Program Loan Forgiveness Application that has been submitted by one of Spectrum’s subsidiaries. Completing the merger before the application has been approved could jeopardize the forgiveness and impact SGSI’s 2021 P&L statement. The application was submitted in strict compliance with existing rules and regulations, and the company anticipates forgiveness in the near future. “As we near the next phase of our journey, the Board of Directors has asked that Mark Porter lead Spectrum Global Solutions as its new CEO, as we work towards achieving a listing on a national exchange,” said Spectrum Global Solutions chairman Roger Ponder in the press release. “We are confident in Mark and his outstanding team as they work towards Spectrum’s continued success.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Spectrum Global Solutions (OTCQB: SGSI), a single-source provider of next-generation communications network and professional services to telecommunications and enterprise markets, has released an update regarding the company’s previously announced merger with High Wire Networks Inc. In addition, SGSI also announced the appointment of a new CEO: Mark Porter. In the announcement, the company noted that all but one of the closing conditions outlined in the merger have been either satisfied or waived; the last closing condition is regarding a pending Paycheck Protection Program Loan Forgiveness Application that has been submitted by one of Spectrum’s subsidiaries. Completing the merger before the application has been approved could jeopardize the forgiveness and impact SGSI’s 2021 P&L statement. The application was submitted in strict compliance with existing rules and regulations, and the company anticipates forgiveness in the near future. “As we near the next phase of our journey, the Board of Directors has asked that Mark Porter lead Spectrum Global Solutions as its new CEO, as we work towards achieving a listing on a national exchange,” said Spectrum Global Solutions chairman Roger Ponder in the press release. “We are confident in Mark and his outstanding team as they work towards Spectrum’s continued success.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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