SMC
Entertainment Completes
FiberSKY
Networks, Inc. Acquisition
San Francisco, CA
-- September
4, 2019 --
InvestorsHub NewsWire -- SMC Entertainment,
Inc. ("SMC" or the "Company")
(OTC:
SMCE), a provider of wireless
communications services, digital content, and media distribution
solutions,
is pleased to announce the acquisition completion of
Milwaukee,
Wisconsin-based FiberSKY Networks, Inc. ("FiberSKY") for equity in
SMC.
FiberSKY provides advanced
wireless communications and broadband services to a number of
disciplines including wireless ATMs and media event
ticketing. FiberSKY has built a solid foundation
of clients and revenue stream with strong renewal rates and growth
opportunities. FiberSKY's 2018 revenue was approximately $118,000
(unaudited).
Rick Bjorklund, President and
CEO of SMC stated, "FiberSKY is expanding its
current business plan and customer base which would potentially have
a significant increase on future revenues.
As we integrate
our two companies, with our planned growth thru
future acquisitions, the repositioning of our
combined business plan strategy
will have a
positive direct impact on future revenue
of
SMC."
Ted
Lasser,
President and CEO of FiberSKY stated, "We are very pleased
with the speed and professionalism
of the due
diligence process the SMC team performed. We look
forward to working with SMC's management
team to expand our market reach
and revenue
growth under the direction of
SMC."
The terms for acquiring 100% of
FiberSKY
are:
(a) issuance of
20,000,000 restricted
common
shares in
accordance with Rule 144 of the Securities and Exchange
Commission, and (b) SMC is extending a
management
agreement to FiberSKY's management
team.
All shares
will be issued from the Company's
treasury.
About SMC Entertainment, Inc.
SMC Entertainment Inc.
is a
provider of wireless communications services, digital content, and
media distribution solutions. For more information, please
visit us at
www.smcemedia.com.
About FiberSKY Networks, Inc.
FiberSKY is an
initiative-based integrated information technology services and
systems. FiberSKY's primarily design concept involves the Digital
Dome designs of a hybrid Internet of Things (IoT)-based broadband
network system called FiberSKY™. This unique proprietary design is
capable of utilizing multiple technologies for the enhancement of
deploying the "last mile" of advanced high speed services to
residential and commercial customers. The FiberSKY system
incorporates multiple technologies such as power lines, fiber
optics, licensed and unlicensed wireless frequencies and existing
telco owned broadband back haul networks to produce an efficient
and scalable broadband connection. For more information, please
visit us at
www.fiberskynetworks.com.
Contact:
SMC Entertainment,
Inc.
info@smcemedia.com
Safe Harbor Statement
This press release contains
statements, which may constitute forward-looking statements within
the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of 1995. Those statements include
statements regarding the intent, belief
or current expectations of the Company, members of its management,
and assumptions on which such statements are based. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements.