With headquarters in Denver, Colorado, China Wi-MAX is a multinational telecommunications and internet service company with a plan to operate in Chinese cities which have rapidly expanded broadband communications. Today, China Wi-MAX took a major step towards prominence with the announcement of a Reserve Equity Financing Agreement with AGS Capital Group (AGS).
According to the terms of the agreement, AGS has made a commitment to purchase shares of China Wi-MAX common stock for cash consideration up to an aggregate of $10 million. The agreement is suppose to happen over a period of two years.
The Reverse Equity Financing provided by AGS represents flexible and cost-effective financing that places China Wi-MAX’s in control of how and when it raises equity debt. The young company has also entered into a joint venture that has been signed with a PRC authorized Internet Service Provider which will provide China Wi-MAX access to additional buildings on Third Ring Road fiber in Beijing.
Leading the way at China Wi-MAX is Steven Berman who serves as the company’s President and CEO. When asked what this funding with mean to the future of China Wi-MAX, Berman was quoted as saying, “This funding plan will support China Wi-MAX’s current operations by providing the necessary capital to allow the execution of our Business Plan, both organically and through merger and acquisition activities, in the rapidly expanding broadband telecommunications market in China, and international data services market. AGS is a strong financial partner, with a track record of successfully helping companies grow. We look forward to working closely with them to build sustainable value for our shareholders through a significant global business.”
To learn more about China Wi-MAX, visit the company website at: www.chinawi-max.com
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