CiG Wireless Corp. (OTCBB: CIGW) and Liberty Towers, LLC said they have entered into an agreement for CiG to acquire certain telecommunications tower sites from Liberty.
The acquisition includes 38 tower sites that are fully constructed or generating revenue, and 252 work-in-progress sites.
Upon completion of the acquisition, CiG will assume all obligations under contractual agreements pertaining to the assets, including leases, license agreements and permits.
The purchase price for the acquisition is USD33,215,000, which will consist of payments to be made in cash and restricted shares of CiG common stock. The target closing date for the transaction is June 30, 2013.
CiG Wireless (www.cigwireless.com) is a leading independent owner and operator of wireless communications infrastructure in the United States.
Liberty Towers (www.libertytowers.com) is a communications tower company which develops, acquires and manages wireless communications towers in the continental United States. Liberty is headquartered in the greater Washington, DC area.