SAN DIEGO, CA / ACCESSWIRE / April 6, 2023 / TPT Global Tech Inc. (OTCQB:TPTW) www.tptglobaltech.com is pleased to announce that its wholly-owned subsidiary, TPT SpeedConnect, LLC ("TPT SpeedConnect") a leading provider of high-speed internet and communication services, has closed on an agreement to merge with Asberry 22 Holdings Inc. (ASHI), a publicly traded formerly shell Pink Sheet company (Stock Symbol: ASHI). Under the terms of the agreement, TPTW will retain majority control over TPT SpeedConnect with approximately 85% ownership or 4,658,318 shares of the common shares and 100% of the Series A Preferred Stock, allowing TPT SpeedConnect's financial statements to be consolidated into TPTW. TPTW acquired the Series A Preferred Stock, which has supermajority voting control, with a 6% convertible promissory note of $500,000 due in 180 days.
"We believe this merger is a major milestone for TPTW and TPT SpeedConnect," said Stephen J. Thomas III, CEO of TPT Global Tech. "We are excited to close on this merger with ASHI. We believe the merger will help create a strong platform for growth, expansion, and raising capital, enabling us to provide even better services and solutions to our customers."
TPT Speed Connect has completed its 4G+/5G network build-out and network upgrade and started its new marketing efforts in the States of Texas, Idaho, and Arizona. The new network deployment is the company's continuing efforts to upgrade its Mid-American overall network for rural broadband and position itself for faster market share growth.
The combined companies will retain the TPT SpeedConnect name and will continue to be headquartered in San Diego CA.
About TPT Global Tech Inc.
TPT Global Tech Inc. (OTCQB:TPTW) is a technology-based company that provides multimedia and telecommunications products and services, including smart city developments, wireless broadband internet services, VuMe (Social Media, VOD, and TV streaming content) and government contracting. TPTW's operations are primarily conducted through its majority-owned subsidiaries, TPT SpeedConnect, TPT Strategic, Inc., and Blue Collar Productions, Inc. based in LA, CA.
About TPT SpeedConnect. TPT SpeedConnect is a leading provider of high-speed internet and communication services to residential and business customers. The company serves customers across [states/countries] and is committed to providing exceptional customer service and innovative solutions that meet the evolving needs of its customers.
Forward-Looking Statements
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CONTACT:
Shep Doniger
561-637-5750
[email protected]
IR-Frank Benedetto
619-915-9422
SOURCE: TPT Global Tech Inc.