BOISE, Idaho, Sept. 20, 2011 /PRNewswire/ -- MediaG3,
Inc. (OTCPK: MDGC), a provider of wireless broadband
solutions, has signed a Letter of Intent to secure a $10 Million funding arrangement with Competitive
Companies, Inc. (CCOP). This funding for capital improvements is
one of many funding arrangements scheduled with CCI in a unique
Partnership allowing both companies to flourish in developing next
generation broadband. MediaG3 will sell its Wytec assets to CCI
with an ongoing Partnership arrangement that will provide MediaG3
continued and unencumbered access to all of Wytec assets including
any future improvements at no cost to MediaG3. Additionally,
MediaG3 shareholders will realize the benefits of future patent
valuations in a unique dividend share arrangement with CCI. Funding
will begin immediately with initial proceeds being directed to
current patent maintenance and development.
"We are very excited about our financing arrangement and
relationship with CCI in that this type of financing entails a
longer term in which future financing needs are pre-negotiated and
allow MediaG3 to focus on establishing revenue streams and its
objective of becoming the premier provider of 4G and next
generation broadband services throughout the United States," explains Val Westergard, MediaG3's chairman.
"Though MediaG3 is utilizing the sale of the Wytec assets to CCI
for the funding arrangement, Media will retain full 'usage' rights
to the technology and future improvements for its own use. Thus the
Company gets the best of both worlds; funding to expand its
business and the use of the patented technology at no expense to
MediaG3. This is truly a win-win situation for MediaG3," comments
CEO Val Westergard.
About Competitive Companies, Inc.
"We are very excited about our growing relationship with
Val Westergard and MediaG3 and look
forward to adding to the existing management and advisory team in
furthering the growth of next generation broadband," remarks
William H. Gray, CEO of Competitive
Companies, Inc. (CCOP), a Nevada Corporation, with offices in
San Antonio, Texas, Eau Clair,
Wisconsin and Scottsdale, Arizona. The Company began
operations in 1998 to provide telecommunication services including
data, voice and video to multiple dwelling units (MDU's) in
tier-one and tier-two markets. CCI refocused its business model to
delivering wireless broadband Internet to rural communities via
wireless technology. "As a result of our unique partnership with
MediaG3 and the Wytec asset purchase, CCI will now focus on working
with MediaG3 to continue upgrading the Wytec patents while
delivering a national and international platform to providers of 4G
broadband services to include thousands of urban, suburban and
rural wireless Internet service providers throughout North America and beyond," says Mr. Gray. For
more information about the Company, visit our website at
http://www.cci-us.com.
About MediaG3, Inc.
MediaG3,™ Inc., (MDGC), develops and delivers wireless
broadband technology products and services for today's fixed and
mobile customers. MediaG3 provides wireless broadband Internet
access and Internet telephone throughout the US, under the Imperial
Wireless brand. MediaG3 will continue to utilize the five key US
wireless patents under the Wytec name and offer wireless broadband
technology, technology licensing and equipment under Wytec and
Wytec "Next Generation" brands. MediaG3 is headquartered in
Boise, Idaho. For more
information, or to register to receive updates, please visit their
corporate site: http://www.mediag3.com.
Safe Harbor Act:
This release may contain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements.
Contact Information
MediaG3, Inc.
Val Westergard
Chairman & CEO
admin@mediag3.com
For Investor Relations please contact:
EquitiTrend Advisors, LLC.
858.436.3350
website: http://www.equititrend.com or
email: admin1@equititrend.com
SOURCE MediaG3, Inc.