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Spectrum Global Solutions Receives Over $1.9 Million in New Contract Awards

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LONGWOOD, Fla., Aug. 13, 2018 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc., (OTC:SGSI) (the "Company"), a single-source provider of end-to-end next-generation wireless and wireline network services and staffing solutions to the service provider (carrier) and corporate enterprise markets, has received over $1.9 Million in new contract awards. The customer orders include network audit, fiber deployment, structured cabling, fiber and small cell design services and staffing solutions to support next generation wireless and wireline services across the nation. This work has commenced through our AW Solutions and ADEX subsidiaries, and the revenue will be realized from Q3 onwards into 2019.   

Roger Ponder, CEO said, "We have now reported in the last 12 weeks nearly $12 Million in new contract awards".   These new contracts and purchase orders are being received at a much higher pace this year over last.  As our customers continue to deploy new network infrastructure to bolster their end client services, Spectrum is being called upon to rapidly deploy resources to meet this increased customer demand.  

Mr. Ponder added: "In a short while we will release our quarterly earnings report.  This will be the first Quarter that includes a fully integrated Company.  We expect to show in our 10Q for the period that we are tracking to meet a $30 Million plus annual gross revenue run rate.   In in the coming months we will look for ways to increase our profit margins, grow   organically and through strategic acquisitions, and increase shareholder value". 

About Spectrum Global Solutions, Inc.:

Spectrum Global Solutions operates through its subsidiaries AW Solutions and ADEX Corp. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. 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

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