SOURCE: O2 Secure Wireless, Inc.

March 24, 2011 07:20 ET

O2 Secure Wireless Announces One Hundred Million Dollar Letter of Intent to Establish a Wireless Network Infrastructure Throughout the Dominican Republic

Ark Capital Ventures Commences Formal Due Diligence

ST. AUGUSTINE, FL--(Marketwire - March 24, 2011) - O2 Secure Wireless, Inc. (PINKSHEETS: OTOW) announces that the Company has entered into the preliminary stage of securing funding to build and deliver Wireless Cellular, Internet, television and home phone service throughout the entire region of the Dominican Republic.

Ark Capital Ventures has expressed an interest in funding the Company up to 100 Million US dollars. They have initiated the due diligence process and are committed to putting forth the Company's best efforts to secure a commitment thereafter.

According to the terms of the Letter of Intent, Ark Capital Ventures has proposed its commitment of 100 Million US dollars to develop the project to saturate the Dominican Republic with State of the Art LTE technology contingent on the collateral agreement to include a first position lien on the licenses, equipment, and contracts. Further developments will be announced as they transpire.

It was recently announced that the Company's Chief Executive Officer, Val Kazia has returned his personal 500 Million Shares back into the Company's treasury.

By retiring the O2 Wireless shares, it's the Company's objective to substantially refine the Company's capitalization structure and position O2 Wireless' structure to more accurately represent the Company's commitment to becoming a key player in rural broadband communications; particularly in underserved territories, like the Dominican Republic.

About O2 Secure Wireless: O2 Secure Wireless is a Company that is currently developing numerous wireless tower facilities in the U.S. The Company is also instrumental in the development of wireless broadband communication services domestically. Under a recent merger with Earthcom Service Inc., the Company is currently being structured to provide affordable flat rate pre-paid wireless services in developing countries internationally.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.

Contact Information

  • For more information visit our website at http://o2securewireless.com or contact
    Investor Relations:
    Gibraltan Financial
    (407)830-9777