Spectrum Global Solutions Receives Over $5.8 Million in New Contract Awards

LONGWOOD, Fla., Feb. 21, 2019 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (OTC: SGSI) (“Spectrum Global” or the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network solutions and professional services to the service provider (carrier) and corporate enterprise markets, today announces that year-to-date it has received over $5.8 million in new contract awards to support carrier network upgrades.

"The new orders add to business obtained in 2018 that we have on deck for completion this year,” stated Spectrum Global CEO Roger Ponder. “We anticipate that the new contracts - paired with the unique services, solutions and technology brought into the business through our pending WaveTech merger - will result in greater value to Spectrum Global and the combined entity.”

As previously announced, Spectrum Global’s merger with WaveTech Global Inc. will create a consolidated entity valued at more than $130 million. Upon closing, Spectrum Global intends to file for a name change to WaveTech Global and uplist to Nasdaq under the ticker symbol “WAVE,” subject to filing and approval by Nasdaq and FINRA.

“Once our merger with WaveTech is finalized, we expect to be in a position to immediately commence uplisting activities and without a capital raise,” Ponder stated. “We started 2019 at a strong pace and look forward to continued growth as we execute strategies to increase corporate and shareholder value.”

About Spectrum Global Solutions
Spectrum Global Solutions operates through its subsidiaries, AW Solutions, ADEX Corp and TNS. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. For more information about the Company and its technologies visit the Company’s public filings at www.SEC.gov or the Company’s website at https://SpectrumGlobalSolutions.com/

About WaveTech Global
WaveTech is a global next generation energy management company that specializes in asset lifecycle extension, intellectual property development, and implementation services. The Company offers a global portfolio of end-to-end energy optimization and lifecycle management solutions developed from proprietary intellectual property, engineered systems, and operational expertise.  WaveTech’s extensive suite of products include power asset life extension, operational servicing and automation, lifetime cost reduction, and real-time heterogeneous power source switching. Additional information regarding WaveTech may be found on WaveTech’s website at www.WaveTechGlobal.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
Spectrum Global Solutions

Investor Relations
Damon Cameron
WaveTech Global, Inc.

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