High Wire Wins Additional $6.7 Million for Multi-Site, Multi-Tech Rollout

Rhea-AI Summary

High Wire Networks Inc. (OTCQB: HWNI) has secured an additional $6.7 million for a technology deployment project, increasing the total contract value to over $12 million. The project will involve deploying multiple technologies across thousands of stores in the U.S. and U.S. territories. CEO Mark Porter emphasized the importance of long-term programs for sustained success, while EVP Don Schmidt expressed excitement about collaborating with their systems integrator partner. This expansion enhances High Wire's position in technology services.

Positive

• Secured an additional $6.7 million, increasing total contract value to over $12 million.
• Project spans thousands of stores across the U.S. and U.S. territories, indicating significant market reach.

Negative

• None.

Additional Revenue for National Wi-Fi Project Brings Total Contract Value to $12 Million

BATAVIA, Ill., Oct. 03, 2022 (GLOBE NEWSWIRE) -- High Wire Networks Inc. (the “Company” or "High Wire") (OTCQB: HWNI), announced today High Wire won an additional $6.7 million for a previously announced technology deployment project through a global systems integrator, that will span thousands of stores across the U.S and U.S. territories. The combined total contract value is over $12 million.

“This expanded project is validation of our focus on long-term, large programs that will produce substantial success for many years to come,” said Mark Porter, High Wire CEO.

 “We are excited to work side-by-side with our SI partner to deploy multiple technologies at additional stores and leverage High Wire’s multi-site technology deployment services to ensure the project is successfully completed,” said Don Schmidt, High Wire EVP. “

About High Wire Networks
For 20 years, High Wire Networks Inc.(OTCQB: HWNI) has been a trusted partner to VARs, MSPs, distributors, integrators, manufacturers and telecom providers by enabling them to minimize overhead while extending delivery capabilities around the world. Our flexible workforce delivers vendor-agnostic technical field, professional and security services in more than 180 countries. Our services include design, installation, configuration and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. Our Overwatch Managed Security Marketplace enables our partners to deliver comprehensive cybersecurity that's easy to sell and easy to buy for an affordable subscription. We also offer a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire Networks, partners Get Work Done. Learn more at www.highwirenetworks.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

www.highwirenetworks.com/investors
investors@highwirenetworks.com

Media Relations

Susanna Song
Vice President of Communications
susanna.song@highwirenetworks.com

FAQ

What is the significance of the new $6.7 million contract for HWNI?

The new $6.7 million contract increases High Wire's total contract value to over $12 million, enhancing their financial position and project scope.

How does the new project impact High Wire Networks in the market?

The project expands High Wire's technology deployment services across thousands of stores, reinforcing their presence in the U.S. market.

When was the additional revenue from the National Wi-Fi Project announced?

The additional revenue of $6.7 million was announced on October 3, 2022.

What technologies will High Wire Networks deploy with the new contract?

High Wire Networks will deploy multiple technologies at additional stores as part of the expanded project.