TROY, Mich., Dec. 01, 2022 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink: VPER), a fast-emerging leader in the LED Street Lights products and integrated Smart Cities systems and solutions market, is pleased to announce that the Company has just concluded an agreement with Global Sustainable Initiatives, Inc. to directly raise capital through state grants and private investments in Smart Cities projects for the state of Illinois and other governmental or private entities in North America and worldwide.
The agreement is contingent on the State of Illinois providing funding or any other funding Global Sustainable Initiatives is able to secure.
Currently, both Global Sustainable and Viper Networks are focused on launching Public Private Partnership (PPP) projects with municipalities in the Southwest Conference of Mayors, which is comprised of twenty-one suburban communities in southwest Cook County in Greater Chicago, starting with the city of Palos Hills which is expected to be announced shortly.
For each new agreement or Public Private Partnership project that Global Sustainable Initiatives enters into and successfully funds, Viper Networks shall contribute common stock valued at $0.05 USD per share at the rate of $2 of stock value for each $1 of grant money or private investment funding received.
The Company is expecting separate grant amounts of $5 million or greater. Noting such, a $5 million grant disbursement would activate project deployment with Viper Networks contributing 200,000,000 restricted common shares or equivalent Proffered Class B shares until common is available.
Viper Networks will be the exclusive design, build, operate and transfer (DBOT) with Global Sustainable Initiatives who will hold real estate and license agreements with government agencies to raise private funding and attract public funding for additional Smart Cities projects. All net revenues generated from smart lights and poles will be shared 50/50 between Viper Networks and Global Sustainable. Viper Networks’ personnel staff will work directly with authorized staff at the municipalities to manage and deploy all hardware and software to integrate all smart poles to the municipality’s infrastructure.
The first phase is targeting installation of smart poles by early 2023, with approximately 2,000 total smart poles to be completed by 2025.
The Company’s revenue estimates reflect $5,000 per pole monthly, with potential shared revenue income from anonymized sensor data, traffic congestion information, advertising and set rate amounts to be paid for city broadband coverage. 2,000 smart poles at $5,000 per pole monthly equals $120 million annually.
Mr. Farid Shouekani, President and CEO of Viper Networks, Inc., commented: “With the VPER common stock value terms set at a nickel per share, our shareholders should be very excited about our Public Private Partnership project terms with Global Sustainable Initiatives. Many similar 50/50 partnership terms are done at a discount to the current stock price while our partnership terms our being established at a considerable premium to the market. Fortunately, we know what we bring to the table and so does Global Sustainable Initiatives.”
Mr. Shouekani continued: “The Company looks forward to breaking ground to commence installation of our Apollo Smart Light poles with LED lights, camera, wireless 6E and 5G interconnection and digital advertising panels in Greater Chicago soon.”
For more information go to www.ViperNetworks.com or follow them on Twitter @vipernetworks, for Global Sustainable go to www.globalsustainableinitiatives.com
Safe Harbor Statement: This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future. Such statements are not guaranteeing of future performance and actual results may differ materially from those predicted and should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history, resources, economic, competitive, and equity market conditions.
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