TPT Global Tech’s Latin American Partner New Orbit Technology Signs Deal to Launch First 5G Network in Central America
Monday March 11th, 2019
SAN DIEGO, Feb. 14, 2019 (GLOBE NEWSWIRE) — TPT Global Tech (OTCQB:TPTW) announced today that its Latin American technology licensing and JV partner, New Orbit Technologies Central America (NOTCA), completed a deal with Antonio Safie, owner of SALNET Telecommunications El Salvador (www.salnet.com) to launch the first 5G network in Central America. SALNET currently owns the 3.5Ghz frequencies or spectrum, owns and operates 500 miles of fiber optics, and a wireless network infrastructure throughout El Salvador. Once the 5G network upgrade has been completed in El Salvador, utilizing the current existing frequencies, fiber and wireless infrastructure, SALNET and NOTCA will offer to its customers unlimited bundled TV, voice, data and mobile services operating on TPT Global Tech’s 3D smartphone, media content, telco network and SaaS technology platforms. TPT Global Tech and NOTCA will share revenues generated in Central America pursuant to the licensing agreement between the two companies.
Antonio Safie was the recipient of the 2016 National Tourism Award, for his long history in the hotel industry, boosting the tourism industry and creating green tourism projects by converting the Sheraton Presidente Hotel into the first green hotel through the use of solar panels to produce energy and promote environmental conservation. In 2017 he received the “El Quijote” Award from the National Association of Industrialists of El Salvador for Rayones de El Salvador, his textile factory, in business for 54 years. Mr. Safie is the Honorary Consul of Cyprus in El Salvador.
Mr. Safie and his family own over 12 companies in El Salvador with well over 1000 employees, most relevant to mention: Rayones de El Salvador, a textile company producing natural and synthetic fiber, Seguros del Pacifico, an insurance company (leader in bonds), Megavision Group, which has 6 television channels (15, 19, 21, 61, 63, 65), 2 national radio stations (97.3 FM and 107.7 FM), and 6 local radio stations, Sheraton Hotel Presidente, BOSH Investments a real estate development company, FERSA a manufacturer of ribbons for shoes and elastic bands and SALNET Telecommunications. Mr. Safie is currently developing a $75 million real estate project which will offer office space and a shopping mall in the city of San Salvador.
“Executing this deal with Mr. Safie, such a prevalent figure in Central America, positions TPT Global Tech, NOTCA and SALNET to be the first to bring 5G Technology to Latin America. At the same time, validates our business model and demonstrates how our multiple technology sectors vertically integrate to help our technology partners, domestically and internationally, compete in any market across the globe,” said Stephen J. Thomas III, CEO of TPT Global Tech.
“I have known and done business with Stephen since 2000 when he and his US Company were the first to bring new VOIP convergent technology to Central America. I am very pleased and excited to partner with Stephen again 18 years later to be the first to bring a new 5G convergent technology to Central America. Our SALNET team is looking forward to working with the TPT Global Tech and NOTCA teams to launch this new 5G technology platform in El Salvador,” said Antonio Safie, owner of SALNET.
This press release contains “forward-looking statements” within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as “believes,” “looking ahead,” “anticipates,” “estimates” and other terms with similar meaning. Specifically, statements about the Company’s plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings and pursuit of new markets are forward looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
About TPT Global TechTPT Global Tech Inc. (OTCQB:TPTW), based in San Diego, California, is a technology/telecommunications media content hub for domestic and international syndication, and also provides technology solutions to businesses domestically and worldwide. TPT Global offers Software as a Service (SaaS), Platform as a Service (PaaS), cloud-based Unified Communication as a Service (UCaaS) and carrier-grade performance and support for businesses over its private IP MPLS fiber and wireless network in the United States. TPT’s cloud-based UCaaS services allow businesses of any size to enjoy all the latest voice, data, media and collaboration features in today’s global technology markets. TPT also operates as a master distributor for nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO), as a master distributor for pre-paid cellphone services, mobile phones, cellphone accessories and global roaming cellphones.
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