NORTH ANDOVER, Mass., Oct. 30, 2013 (GLOBE NEWSWIRE) -- Urban Ag Corp. (OTC:AQUM) (the "Company"), announced today that Terra Asset Management, Inc. ("TAM"), an operating unit of its wholly-owned subsidiary Green Wire Enterprises, Inc., has been awarded the first field application (FFA) installation of a new prototype of microwave system for a tier one carrier.
The FFA testing process helps determine the viability and productivity of a new and advanced product/technology in an operating environment. Once installed the tier one carrier will be able analyze the effectiveness of its microwave system and future rollout. This provisional award does not guarantee future contracts with the tier one carrier, but the Company believes it will be able to competitively bid any possible deployment contracts.
Billy V. Ray, Jr., CEO of Urban Ag Corp stated, "We are excited to participate at the initial phase of field testing of what appears to be the newest and most advanced microwave system to date. I am proud of the business relationship developed by Terra Asset Management that continues to strengthen with its existing customer. Based on this success I believe that they will be able to build on our progress in the market."
Green Wire Enterprises' operating subsidiaries serve a wide customer base that includes telecom customers such as Verizon, Motorola, Alcatel-Lucent, Time Warner and general contractors serving national 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 schools in the Texas market.
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.