Spectrum Global Solutions Announces $3.6 Million in New Contract Awards


New Contract Wins Driven by Nationwide 5G Implementation

LONGWOOD, FL, Aug. 22, 2019 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (the "Company" or "Spectrum") (OTCQB: SGSI), a leading single-source provider of next-generation communications network infrastructure and maintenance solutions, today announced that it has recently received $3.6 million in new contract awards across all operating subsidiaries.

The new contract awards are composed of work orders from both new and existing clients, who are building upon prior work orders awarded to Spectrum in the past. The work orders are predominantly for infrastructure projects as network operators prepare for a nationwide implementation of 5G.

“We are pleased to announce over $3.6 million in new contract awards,” said Roger Ponder, Chief Executive Officer of Spectrum Global Solutions. “Across the board, we are seeing network operators and carriers strengthen and expand their wireless infrastructure on the back of an ever increasing consumer demand for wireless data. These new contract awards in particular pertain to enhancing data infrastructure for the upcoming Super Bowl through improvements to hospitality facilities’ telecommunications and security infrastructure.

“As we continue to expand our service offering to support the rollout of 5G, which requires a large number of small cell deployments rather than a fewer number of larger towers as was traditionally seen, our opportunity pipeline continues to grow at a rapid rate. I look forward to continued operational execution on this front and long-term shareholder value creation,” concluded Ponder.

About Spectrum Global Solutions
Spectrum Global Solutions (OTCQB: SGSI) is a leading single-source provider of next-generation communications network infrastructure and maintenance solutions. Spectrum’s highly scalable platform model, proven out through engagements with tier-1 network operators in the United States, Canada and the Caribbean, uniquely allows for the bundling of disparate services with a single provider, simplifying network deployment and maintenance with a comprehensive, cost-competitive one-stop-shop solution. To learn more, visit the Company’s website at https://spectrumglobalsolutions.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:
Greg Falesnik or Luke Zimmerman
MZ Group – MZ North America
Main: 949-259-4987
SGSI@mzgroup.us