Jul 08, 2024 | Posted by Abdul-Rahman Oladimeji
Siyata Mobile has announced that it will be investing in Canadian Towers & Fiber Optics Inc. (CT&FO), a company that specializes in developing telecoms infrastructure in Mexico. It will be purchasing an aggregate of 130,000 common shares, at a purchase price of $8.00 per share, for an aggregate purchase price of $1m.
"Our investment in CT&FO provides us with an entrée into Latin America through an established and fast-growing telecommunications partner. Through this partnership, we will have the opportunity to collaborate with a leading cell tower company to develop new business opportunities for our PTT handsets in Central Mexico and across Latin America as CT&FO further expands its business," said Siyata CEO, Marc Seelenfreund.
"Latin America represents a massive market opportunity for PTT devices, and we are excited to leverage CT&FO's leading industry position to further advance our sales efforts."
Chris Cooper, CEO of Canadian Towers & Fiber Optics Inc. added: "We are excited to have Siyata join as an investor. We look forward to working with the Siyata team to grow our telecommunications infrastructure business and to introduce its innovative devices to wireless carriers in Latin America."
