Spectrum Global Solutions Reduces Outstanding Convertible Debt

LONGWOOD, FL, June 03, 2020 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc., SGSI (the "Company"), is a leading single-source technology and services provider, specializing in next-generation energy management, professional engineering and communications network infrastructure solutions announced today that it has instituted several cost cutting measures and was able to eliminate over $500,000 of convertible debt that would have been toxic to the Company's common stock.  

Roger Ponder, CEO stated "the elimination of toxic debt, the tightening of our belts, and the strengthening of our balance sheet, is an on-going focus for the Company and will continue to be so as we manage through these trying times".

About Spectrum Global Solutions, Inc.:

Spectrum Global Solutions SGSI is a leading single-source technology and services provider, specializing in next-generation energy management, professional engineering, and communications network infrastructure solutions. Spectrum's highly scalable service platform model, proven out through engagements with tier-1 network operators in the United States, Canada, Caribbean, Europe, Africa and Asia uniquely allows for the bundling of disparate services and technology products with a single provider, simplifying network deployment and maintenance with a comprehensive, cost-competitive one-stop-shop solution. For more information about the Company and its technologies visit the Company's public filings at SEC.gov.

Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

CONTACT:
Investor Relations
Spectrum Global Solutions
561-672-7068