MediaG3, a provider of wireless broadband solutions, has
signed a Letter of Intent to secure a $10 million funding arrangement with
Competitive Companies, (CCOP). This funding for capital improvements is one of
many funding arrangements scheduled with CCI in a unique Partnership allowing
both companies to flourish in developing next generation broadband.
MediaG3 with an ongoing Partnership arrangement
that will provide MediaG3 continued and unencumbered access to all of Wytec
assets including any future improvements at no cost to MediaG3.
Additionally, MediaG3 shareholders will realize the
benefits of future patent valuations in a unique dividend share arrangement
with CCI. Funding will begin immediately with initial proceeds being directed
to current patent maintenance and development.
“We are very excited about our financing arrangement
and relationship with CCI in that this type of financing entails a longer term
in which future financing needs are pre-negotiated and allow MediaG3 to focus
on establishing revenue streams and its objective of becoming the premier
provider of 4G and next generation broadband services throughout the United
States,” said Val Westergard, chairman, MediaG3.
By Telecomlead.com Team
