SOURCE: ERF Wireless, Inc.

April 30, 2014 08:15 ET

ERF Wireless Inc. Announces Investment Banking Agreements for Debt Consolidation, for $20 Million in Acquisition Financing, and $30 Million in a Firm-Commitment Public Offering

LEAGUE CITY, TX--(Marketwired - Apr 30, 2014) - ERF Wireless (OTCQB: ERFB), the operator of the nation's largest terrestrial wireless broadband network servicing the domestic oil and gas sector, announced today that it has signed three investment banking agreements with a leading New York-based investment banking firm to assist in sourcing capital. The investment banking firm was founded in 1925, is one of the oldest in the United States, a member of the New York Stock Exchange and a full-service broker-dealer employing over 500 people. The firm manages two Morningstar-rated funds with over $2.8 billion of retail accounts, nearly 100 registered representatives and 20 investment advisors in six offices.

Under the first agreement, ERF Wireless has retained the investment banking firm as its exclusive financial advisor in connection with debt consolidation financing of up to $5 million of existing debt. Under the second agreement, ERF Wireless has retained the investment banking firm as its exclusive financial advisor in connection with providing the cash portion of acquisition financing of up to $20 million. The planned acquisitions specifically target several organizations that offer accretive revenue and strategic value to the continued development and marketing of the wireless broadband products and services of ERF Wireless. Specific terms and conditions, which the company belives to be reasonable and attainable, must be met for these acquisitions.

The third agreement anticipates an up-listing to a national market and a public offering of $30 million on a firm-commitment basis. The planned public offering is subject to the company's successful acquisition(s) of one or more companies meeting the requirements of the investment banking firm.

ERFWireless' CEO, Dr. H. Dean Cubley, said, "We are exceedingly pleased to establish this relationship with such a prestigious New York Stock Exchange member firm, which validates our business plan and the value of our existing business that we have built over the past few years. We expect the assistance of this well established investment banker will continue to accelerate our growth. An aggressive acquisition program is already under way, and we are beginning due diligence on several highly qualified acquisition targets. Our management team believes we can satisfy the conditions in all three investment banking agreements and add significant value for our shareholders."

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 Wireless Bundled Services, ERF Wireless Messaging Services and ERF Network Operations. 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 and or call 281-538-2101. (ERFBG)

Forward Looking Statements
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 negatives 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 are 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

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