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EX-10.1 - ACQUISITION AND PURCHASE AGREEMENT - TPT GLOBAL TECH, INC. | tptw_wx101.htm |
8-K - CURRENT REPORT - TPT GLOBAL TECH, INC. | tptw_8k.htm |
EXHIBIT 99.1
TPT Global Tech Acquires Bridge Internet, anticipated to be a Cell
Phone Tower and Internet Service Provider Offering Joint Venture
Opportunities to Municipalities, Cooperatives and Individuals
Across Rural United States
Issuer
Direct
SAN
DIEGO, March 17, 2020/IssuerDirect / -- TPT Global Tech, Inc.
(“TPTG, the Company or TPT Global Tech”) (OTCBB:TPTW)
announced today it has recently completed the acquisition of a
majority of Bridge Internet, LLC. (“Bridge Internet”) a
Delaware corporation. The company acquired 75% of Bridge Internet
for 8M shares of common stock of TPTW, 4M of which vest equally
over two years. As sufficient funding is raised by the Company,
defined as around $3M, marketing funds of up to $200,000 per
quarter for the next year will be provided and a formal employment
agreement will be created for Trip Camper. Tower industry Veteran,
Founder and CEO of Bridge Internet, Trip Camper, will retain the
remaining 25% of Bridge Internet and stay on as the CEO, as well as
become the acting CEO of TPT Speed Connect LLC.. Speed Connect
LLC’s assets were acquired by the Company in May of 2019 and
conveyed into a wholly owned subsidiary TPT SpeedConnect, LLC.. TPT
Speed Connect is one of the largest Rural Wireless Internet Service
Providers in the United States with operations in 10 Midwestern
States.
Bridge
Internet offers a Joint Venture (JV) business model to
Municipalities, Cooperatives and Individual Territory Owners
throughout the United States. It currently has no revenues. As a
territorial, duplicatable, wireless internet service provider, this
is a unique opportunity for potential JV partners to join an
incredible revenue sharing business model. It is very easy for
Municipalities, Cooperatives or Individual Owners to start JV
businesses with Bridge Internet to provide their communities with
state-of-the-art High-Speed Internet, Voice and IPTV services. The
internet is a commodity many take for granted but for those with
limited access every day is an unnecessary struggle. With millions
of rural Americans struggling to find a reliable internet provider,
Bridge Internet will help make a difference in people’s lives
by providing access to online classes, healthcare, news and
entertainment.
“The acquisition of a majority of Bridge Internet is a
milestone in the continued growth of TPT Global Tech as a leading
player in the wireless internet markets,” "Bridge Internet
coupled with TPT Speed Connect remains focused on serving the
Internet infrastructure needs of our customers and strengthening
our industry leading position" Says Trip Camper, CEO of Bridge
Internet.
"Adding
Trip Camper to TPT Global Tech’s management team in a very
short period of time has already proven to be a great new asset for
the company. His many years of working in the US Cell Tower
industry and his experience in running US public companies is very
welcomed at TPT Global Tech” said Stephen Thomas
CEO..
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 Tech
TPT
Global Tech Inc. (OTC: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), Technology 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's 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.