EasTower Wireless Receives Additional Cash Injection From Management and Announces Debt Conversions

BOCA RATON, Fla., Nov. 23, 2022 (GLOBE NEWSWIRE) -- EasTower Wireless Inc. (“EasTower” or the “Company”) (TSXV:ESTW), announces that it has received an additional cash loan from its founder and CEO, Vlado P. ‎Hreljanovic, to assist with meeting current working capital requirements.‎ Mr. Hreljanovic has loaned an additional US$67,200 to the Company pursuant to a demand promissory ‎note bearing interest at 8% per annum from the date of issue, payable on maturity. The loan, and the ‎US$90,000 loan previously provided by Mr. Hreljanovic to the Company (announced on November 4, ‎‎2022), is secured by the accounts receivables of the Company’s indirect wholly owned operating ‎subsidiary and is fully redeemable, without bonus or penalty, at any time by the Company.‎

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