NORTH ANDOVER, Mass., Jan. 28, 2013 /PRNewswire/ -- Urban AG Corp (OTCQB: AQUM) (the "Company" or "AQUM"), today released the following information concerning the operational units of acquisition candidate Green Wire Enterprises, Inc. ("GWE"). GWE operates through three subsidiaries located in San Antonio, Texas, Broken Arrow, Oklahoma and Corpus Christi, Texas.
The San Antonio operation is a certified, minority-owned small business offering Telecommunication Solutions and Equipment, Structural Cabling, Wireless Solutions, Microwave Tower, Fiber and Antenna Installation, and Alternative Energy Solutions complemented by name brands and superior products and devices. The business model of this subsidiary is centered on providing cost saving solutions and resources for city, county, school and state governments and associated agencies providing communication and data systems that create a competitive advantage by delivering efficiency, productivity, and cost savings with seamless equipment installations and secure operations incorporating internet, IT & data integration, GPS and monitoring. The San Antonio operations also resell Fiber to counties, municipalities and corporations/businesses.
The GWE operations located in Broken Arrow, Oklahoma is an established network asset management company with the capacity to build out state of the art networks using existing workforces and subcontractors, and the expertise to provide diverse services to subscriber companies. They design and build network infrastructure for the largest tech and wireless companies, such as Alcatel-Lucent, Motorola, Sprint, AT&T, Verizon, Starbucks, Southeast Financial, and Bank Plus. This operation represents half of the expected revenues of GWE.
GWE's Corpus Christi subsidiary provides asset management such as human resources for specialized labor force. They also provide sales, service, and installation of telephone and paging equipment, network services, fiber optics, tower and antenna installations, as well as camera surveillance for the Corpus Christi area. Among the subsidiary's extensive client base are 6 out of the 7 largest General Contractors in the US. Through these clients the Corpus Christi operations provide phone/ data and equipment installation, maintenance and technical services to customers such as Wal-Mart, CVS, Firestone, Radio Shack and others.
Billy V. Ray, Jr., CEO of the Company, stated, "GWE's operations and central location within the US provide AQUM with a unique opportunity to enter into the telecommunication market with a broad range of services and opportunities to cross sell these services to a broad base of customers. We look forward to closing the acquisition on January 31, 2013. The closing was pushed back from the previously announced January 25, 2013 date to alleviate accounting and transitional purposes."
GWE's operating subsidiaries serve a wide customer base that includes Telecom customers such as Verizon, Motorola, Alcatel-Lucent, Time Warner and General Contractors serving customers such as Wal-Mart, CVS and Gulf Marine. The subsidiaries also network and design services to a multiple of state and county government agencies, colleges and school in the Texas market.
Contact: Billy V. Ray, Jr
Urban Ag Corp. Corporate Office
Email address Investor Relations Department: Investorrelations.firstname.lastname@example.org
This news release contains forward-looking statements within the meaning of Section 37A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the Company's ability to continue to successfully market and provide its services, maintain its effectiveness and its customer base and general economic conditions. The Company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Urban AG Corp