Market Overview

ERF Wireless Spins Off Multi-Million Dollar Asset Consisting of its Residential and Home Business Networks

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Sale Proceeds to be Used to Pay Debt and Improve the Company Balance Sheet

LEAGUE CITY, TX / ACCESSWIRE / September 17, 2014 / ERF Wireless Inc. (OTCQB: ERFB), a leading provider of enterprise-class wireless and broadband products and services, announced today that the Company has completed its sale of a majority of its Wireless Internet Service (WISP) networks providing wireless broadband Internet to residential and home business throughout large areas of Texas.  Sale proceeds from this multi-million dollar sale will be utilized to retire existing debt, support ongoing operations and improve the ERF Wireless balance sheet.  The specific terms of the sale were not disclosed but ERF Wireless and its subsidiary Energy Broadband will continue to have exclusive access to the networks that were sold for the purpose of supplying broadband Internet services to its oil and gas customers through a multi-year contract with the buyer.  In addition ERF Wireless and Energy Broadband have retained and will continue to own and operate wireless broadband networks primarily serving oil and gas customers in the Eagle Ford Shale of South Texas, the West Texas oil and gas regions of the Permian Basin, as well as wireless broadband networks in portions of New Mexico, Oklahoma, Louisiana, and the western Texas Panhandle.

Dr. H. Dean Cubley stated, "As ERF Wireless continues to capture more market share from its competitors in the Oil and Gas sectors, the sale of certain WBS assets allow our Energy Broadband subsidiary to realize efficiencies in manpower and distributed assets across both the Eagle Ford and Permian Basin regions. This translates into faster customer response times, redundant support mechanisms and focused channel sales efforts that exponentially increase ERF's ability to meet increasing demand while providing increased reliability. Meeting these milestones is a key step in fulfilling our Operation goals as was outlined in our 2014 Corporate Objectives. The sale of our residential networks in Texas is an important first step in our overall list of business objectives for 2014 that we outlined in our August 14, 2014, press release.  We plan to combine the proceeds of this sale with other financing that is being arranged to completely upgrade the ERF Wireless balance sheet over the remainder of 2014.  We will also seek to complete one or more acquisitions in 2014 of other compatible companies in our industry using the third party acquisition financing announced in our press release on April 30, 2014."

About ERF Wireless

ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com, www.energybroadband.com and www.erfwireless.net or call 281-538-2101. (ERFBG)

Forward-Looking Information

The information in this release may contain forward-looking statements relating to anticipated or expected events, activities, trends or results. Forward-looking statements, can be identified by the use of forward looking terminology such as "believes," "suggests," "expects," "may," "goal," "estimates," "should," "likelihood," "plans," "targets," "intends," "could," or "anticipates," or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward-looking statements in this release include, without limitation, the Company's expectations of continued expansion into oil and gas markets and of our terrestrial broadband networks, along with other performance results. These statements are made to provide the public with management's current assessment of our business, and it should not be assumed that that the forward looking statements will prove to be correct. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this release only as of the date hereof, and we expressly disclaim any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in management's expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this release. Please carefully review our filings with the Securities and Exchange Commission as we have identified many risk factors that impact our business plan.

CONTACT:

ERF Wireless Inc.
Clareen O'Quinn
281-538-2101 ext. 113
coquinn@erfwireless.com

Financial Relations Firm:
Mirador Consulting LLC
561-989-3600
lbigbidask@aol.com

 

SOURCE: ERF Wireless Inc.