High Wire Wins $3.5 Million Technology Solutions Contract for Tier One Network Service Provider

Rhea-AI Summary

High Wire Networks (OTCQB: SGSI) announces a significant $3.5 million contract with a national communications service provider to deploy network solutions across thousands of locations. This project builds on a previous multimillion-dollar fiber network contract with the same client, indicating a solid partnership. CEO Mark Porter expressed confidence in the company's growth trajectory into 2022, citing stable revenue streams and the expansion of their client base.

Positive

• Secured a $3.5 million contract for network solutions, expanding business opportunities.
• Continuing partnership growth with the client indicates strong market trust.
• Projected stable and predictable revenue streams as the company grows.

Negative

• None.

Network Expansion Project Ramps Up Through Fourth Quarter and Into Next Year

BATAVIA, Ill., Nov. 16, 2021 (GLOBE NEWSWIRE) -- High Wire Networks Inc.’s (the “Company” or "High Wire") (OTCQB: SGSI) today announced it won a $3.5 million contract for a national communications service provider to deploy network solutions at thousands of locations across the country.   

“As I shared in our quarterly results announcement, new programs and extensions of existing ones are validating our sales and marketing strategy,” added High Wire CEO Mark Porter. “We are accelerating our growth into 2022 with stable and predictable revenue streams from existing clients and expanding our base with new ones.”

Last month, the Company announced it won a multimillion-dollar fiber network contract with the same service provider. “The continued growth solidifies our trusted partnership with the client and our ability to deliver highly qualified technical teams,” added High Wire Executive Vice President of Sales Don Schmidt.

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 recent contract announced by High Wire Networks (SGSI)?

High Wire Networks announced a $3.5 million contract to deploy network solutions for a national communications service provider.

How does the recent contract impact High Wire Networks (SGSI) stock?

The new contract is expected to enhance revenue streams, positively affecting High Wire Networks' stock performance.

What was the previous contract secured by High Wire Networks (SGSI)?

Prior to the $3.5 million contract, High Wire secured a multimillion-dollar fiber network contract with the same service provider.

What does the CEO of High Wire Networks (SGSI) say about the company's growth?

CEO Mark Porter indicated that the company is accelerating growth into 2022 with stable revenue streams and expanding client relationships.