Spectrum Global Solutions Receives Over $2.5 Million in New Contract Awards

LONGWOOD, Fla., Nov. 06, 2019 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (OTCQB: SGSI) (the “Company” or “Spectrum”), a leading single-source provider of next-generation communications network infrastructure and maintenance solutions, today announced that it recently received over $2.5 million in new contract awards across all operating subsidiaries.

The new contract awards are from both new and existing clients. The work orders are predominantly for infrastructure projects as carriers upgrade their networks in advance of the rollout of 5G in the United States.

“We continue to see strong demand for our professional services” said Roger Ponder, Chief Executive Officer of Spectrum Global Solutions. “With our recent establishment of ADEX Canada, we anticipate the strong demand we see in the US translating to Canada, with growing opportunities to add clients to fulfill their network service needs. We also look to leverage our professional engineering licenses to bring our 5G network design knowledge to the marketplace. The rollout of 5G networks is expected to create 3 million American jobs and add half a trillion dollars to U.S. GDP, according to global-management consultant Accenture”, concluded Mr. Ponder.

About Spectrum Global Solutions

Spectrum Global Solutions (OTCQB: SGSI) is a leading single-source provider of next-generation communications network infrastructure and maintenance solutions. Spectrum’s highly scalable platform model, proven out through engagements with tier-1 network operators in the United States, Canada and the Caribbean, uniquely allows for the bundling of disparate services with a single provider, simplifying network deployment and maintenance with a comprehensive, cost-competitive one-stop-shop solution. To learn more, visit the Company’s website at https://spectrumglobalsolutions.com/.

Forward-Looking Statements

The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

Investor Relations:
Greg Falesnik or Luke Zimmerman
MZ Group – MZ North America
Main: 949-259-4987
SGSI@mzgroup.us 


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