SOURCE: ERF Wireless Inc.

ERF Wireless Inc.

October 05, 2011 08:00 ET

ERF Wireless Receives Binding Commitment Agreement for Pure Debt Financing Line of Credit of up to Three Million Dollars

Dakota Capital Fund LLC to Provide ERF Wireless Credit Facility to Fund Major Expansion of Energy Broadband Subsidiary in Most Oil & Gas Regions Including the Bakken Shale of North Dakota

LEAGUE CITY, TX--(Marketwire - Oct 5, 2011) - ERF Wireless (OTCBB: ERFB), a leading provider of enterprise-class wireless broadband products and services, announced today that it has entered into a binding commitment agreement with Dakota Capital Fund LLC of Sioux Falls, South Dakota, for an initial round of debt financing of up to $3,000,000 to be utilized by ERF Wireless to quickly expand its Energy Broadband subsidiary's presence in all of the major oil and gas exploration regions of North America. Dakota Capital Fund has a special interest in having Energy Broadband initiate its oil and gas wireless broadband services in the Bakken Shale region of North Dakota and initial efforts to that end have already begun.

Terms of the agreement call for the definitive funding agreement to be available for signature on or before October 31, 2011, with a financing of $2,000,000 to be available by that date to be utilized to acquire revenue producing assets. Dakota Capital Fund LLC also has the option of funding an additional $1,000,000 within 90 days of October 31, 2011, under the same terms. ERF Wireless may take down any amount up to the full amount of the credit line at any time during the two-year term of the agreement and pays interest only on any funds that have actually been received from the credit line. The financing received under this credit line is secured by certain ERF Wireless assets and there is no prepayment penalty.

For more information regarding the products and services of Energy Broadband, including their capabilities in the oil and gas industry, please visit the new Energy Broadband website at www.energybroadband.com. This website includes the coverage in the Eagle Ford Shale region, as well as certain coverage planned in some of the other oil and gas regions in North America. Potential customers requiring more detailed information or a quotation for product or services should contact the Energy Broadband sales staff at 888-770-7052.

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 http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)

Forward-looking statements in this release regarding ERF Wireless Inc. and Energy Broadband Inc. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    ERF Wireless Inc.
    Clareen O'Quinn
    281-538-2101 ext. 113
    Email Contact