Following up from our post the other day regarding Tower One’s entrance into Mexico, the Company announced this morning the purchase of 15 new cell towers in Argentina. These 15 towers are expected to cost a total of approximately USD$1,050,000. Tower One conducted a successful cost-cutting bid process with tower vendors that has reduced its cost per tower site.
Tower One is operated by a team of telecom and finance professionals with a long history in the telecom and wireless infrastructure business. Management has voluntarily put its 30 million shares in a lockup for three years. Tower One Wireless is currently focused on 4G and 5G LTE infrastructure expansion in Latin America.
Alex Ochoa, CEO, stated “The goal of this process was to reduce the cost of towers and enhance the economics of the business. Unquestionably, we have achieved our goal and this purchase lays the foundation for the balance of 2017 and 2018 during which we anticipate an additional 200 new, Built-To-Suit, tower opportunities.”
Tower One is focused on building cellular towers in municipalities with very limited or no cellular coverage, enhancing the probability for multiple carriers sharing the tower and lessening the competitive risk.
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Tower One Wireless Corp. is not a client nor an advertiser. One or more of the Stock Syndicate owners does own shares in Tower One Wireless Corp.