High Wire Networks Wins Multimillion-Dollar Technology Solutions Contract for Tier One Network Services Provider

Rhea-AI Summary

High Wire Networks Inc (OTCQB: SGSI) announced a new contract for a next-generation fiber network deployment valued between $4.8 million and $7 million for the first year. The project begins immediately, ramping to full production within eight weeks, aiming to extend the fiber network to hundreds of thousands of locations across the U.S. President Mark Porter emphasized the company's commitment to profitable growth and enhancing service delivery in technology and cybersecurity.

Positive

• Contract value estimated at $4.8 to $7 million, indicating significant revenue potential.
• Project initiation and ramp-up expected within 8 weeks demonstrate operational readiness.
• Focus on extending fiber network aligns with increasing demand for communication services.

Negative

• None.

Estimated Contract Value of Up to $7 Million to Deploy Next-gen Fiber Network Across the U.S.

BATAVIA, Ill., Oct. 14, 2021 (GLOBE NEWSWIRE) -- High Wire Networks Inc.’s (the “Company” or "High Wire") (OTCQB: SGSI) today announced it will begin a next-generation fiber network deployment across the country for a national  communication services provider. The value of the contract is estimated to be $4.8 million to 7 million for the first year, with potential add-on services to increase the value over the next three years, through the completion of the project.

The project starts immediately and will ramp into full production over the next 8 weeks. High Wire will provide support for the client’s corporate initiative to extend the fiber network to hundreds of thousands of locations.

“This is a testament to the hard work of our combined sales organization and our focus on profitable revenue growth,” said Mark Porter, President and CEO of High Wire. “As we continue to deliver unrivaled services in technology, managed cybersecurity and commercial electrical, we see tremendous growth in every aspect of our business. We expect to get better and faster.”

About High Wire Networks
For 20 years, High Wire Networks Inc. (OTCQB: SGSI) 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
High Wire Networks Inc.
http://www.highwirenetworks.com/investors


Media Contact:
Susanna Song
Vice President of Marketing and Communications
High Wire Networks
630-635-6717
susanna.song@highwirenetworks.com

FAQ

What is the estimated contract value for High Wire Networks' new fiber network project?

The estimated contract value is between $4.8 million and $7 million for the first year.

When is the fiber network deployment project expected to start?

The project is set to start immediately and will ramp into full production over the next 8 weeks.

What is the ticker symbol for High Wire Networks?

The ticker symbol for High Wire Networks is SGSI.

Who will benefit from the fiber network deployment by High Wire Networks?

The deployment will support a national communication services provider, extending their fiber network to hundreds of thousands of locations.

What services will High Wire Networks provide with this contract?

High Wire Networks will provide support for technology, managed cybersecurity, and commercial electrical services as part of the deployment.