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  • Tower One Wireless (TO) has announced the company has closed an acquisition and settlement agreement
  • The Vancouver wireless company will purchase from a minority shareholder all, shares of its subsidiary Evolution Technology which it does not already own
  • The company paid US$30,000 in cash and issued an aggregate of 6,300,000 of its own common shares as part of the deal
  • Shares had a deemed price of C$0.07875 per share for proceeds of $496,125
  • Tower One is down 4.69 per cent, trading at $0.084 at 12:40 pm ET

Tower One Wireless (TO) has announced the company has closed an acquisition and settlement agreement.

The Vancouver wireless company will purchase from a minority shareholder all, shares of its subsidiary Evolution Technology which it does not already own.

The company paid US$30,000 in cash and issued an aggregate of 6,300,000 of its own common shares as part of the deal.

Shares had a deemed price of C$0.07875 per share for proceeds of $496,125.

The shares issued upon closing of the transaction are subject to a statutory hold period of four months and one day.

Tower One’s principal business is to build, own and operate multi-tenant wireless telecommunications infrastructure in Latin America.

The company leases space on its towers to mobile network operators.

Tower One is focused on the build to suit tower industry whereby a long-term lease is secured with a tenant prior to building a tower. The company operates in the three largest Spanish speaking countries in Latin America, Colombia, Mexico and Argentina with a combined population of approximately 220 million people.

Tower One is down 4.69 per cent, trading at $0.084 at 12:40 pm ET.

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