OAK BROOK, IL / ACCESSWIRE / June 18, 2020 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative Edge Cloud and 5G enhancing technologies, announced today that the company has acquired the assets of Vibe Wireless. The terms of the transaction are not available at this time.
"Vibe Wireless is a strategic acquisition for the company and is a natural fit with our 5G initiative," said James Honan, Jr. Affluence's CEO. "Vibe Wireless holds one of three active wireless telecommunications licenses with Frequency Authorization on the Caribbean Island of Grenada. The Vibe acquisition is a step toward developing diversified revenue streams in multiple 5G and IoT technology sectors," said Honan.
"We are very excited about the Affluence transaction," said Christian DeMarco, CEO of Vibe Wireless. "We believe that Affluence will bring the resources and partnerships to continue Vibe's mission to bring 5G networks to the Caribbean. Vibe Wireless has been in discussions with officials from the local National Telecommunications Regulatory Commission (NTRC) in Grenada and will now be able to strategically plan and implement its 5G RAN build plan. Vibe Wireless and Affluence together will then be in position to deliver its proprietary 5G solutions to all Eastern Caribbean Telecommunications Authority (ECTEL) member nations with the ability to reach up to 2 million monthly subscribers in the region," said DeMarco.
About Affluence Corporation.
Affluence Corporation (AFFU.PK) is a holding company primarily focused on the acquisition and roll-up of synergistic companies providing 5G enhancing infrastructure and technologies, edge computing and innovative cloud solutions. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet.
About Vibe Wireless
Vibe Telecom provides mobile voice, fixed line and data services. Vibe's mission is to create, expand and maintain the first true 5G wireless network in the Caribbean with a commitment to provide the latest cutting edge technology.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.
For further information contact Affluence Corporation Investor Relations at 720-295-6409.
SOURCE: Affluence Corporation