10/13/2019 - PISCATAWAY, N.J. :
Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced today that it has signed a definitive agreement with Peak One Opportunity Fund, L.P. for a $10 million equity line of credit. Hammer had previously announced projects in Sierra Leone, Dominica, other parts of the Eastern Caribbean and Huntsville, AL. “The first phase of the fixed wireless project in Sierra Leone has been deployed and customer tests are in progress. The wholesale voice project in Dominica is nearing completion and Hammer will begin construction of its network in Huntsville, Alabama. We are also seeing traction in our messaging business unit.” said Erik Levitt, Hammer’s CEO. “The Peak One equity line will provide Hammer a flexible funding source to meet our cash flow needs.”
The details of the transaction are available in an 8K disclosure.
Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation. For more information contact Investor Relations at email@example.com.
Peak One Opportunity Fund, LP is a private equity fund focused on direct investments into emerging growth companies
Forward Looking Statements
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995