RUSHVILLE, Ind., Nov. 9, 2009 (GLOBE NEWSWIRE) -- Omnicity Corp (OTCBB:OMCY), the Midwest's largest and fastest growing fixed Wireless Internet Service Provider, today announced the closure of a $1,170,000 financing. This financing is earmarked for the completion of several asset purchase agreements ("Acquisitions") in various stages of closure. This financing will assist Omnicity in the furthering of its mission to bring broadband to the Heartland of rural America and to accelerate its acquisition and growth strategies.
Greg Jarman, CEO of Omnicity, stated, "This financing allows us to accelerate our growth strategy and allows us to close on our acquisitions quickly. These acquisitions, combined with an aggressive set of sales and marketing campaigns, should more than double our subscribers, our network infrastructure and revenues. Subject to these acquisitions closing, it will be the second time we have doubled our business in the first year since going public."
About Omnicity:
Our vision is to be the first broadband service provider to expand its network across rural America
Omnicity Corp is a public company based in Indiana providing broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets and is planning to be the premier consolidator of rural market broadband nationwide. Omnicity's strategy is to provide a total broadband solution and continue rapid growth through acquisitions, organic growth and continue to partner with Rural Electric Membership Co-ops and Rural Telephone Companies. Omnicity has an experienced broadband operations team with extensive wireless broadband/ISP expertise as well as the expertise to consolidate large numbers of businesses through its roll-up strategy.
Forward-looking statements, made pursuant to safe harbor provisions of the PSLR Act of 1995, inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for changes after the date of this release.