LA JOLLA, Calif., Oct. 28, 2015 (GLOBE NEWSWIRE) -- Clearwave Telecommunications, Inc. (OTC Pink:CWTC) announced today that it has entered into an agreement to complete the strategic acquisition of World Nation Live Entertainment Inc.
On October 26th, 2015, Clearwave Telecommunications, Inc. (OTC PINK:CWTC) has signed an agreement with United States based World Nation Live Entertainment, Inc. pursuant to which shareholders of World Nation Live Entertainment, Inc. will become the largest shareholders of Clearwave Telecommunications, Inc. This will be accompanied by the name change of Clearwave Telecommunications, Inc. to World Nation Live Entertainment, Inc. and a symbol change to be advised upon completion of appropriate filings with FINRA. Under the new agreement, specific directors and officers of Clearwave Telecommunications, Inc. have resigned and will be replaced by designees of World Nation Live Entertainment, Inc. Darryl Payne will be the new CEO of Clearwave Telecommunications, Inc.
Darryl Payne, the award winning CEO of World Nation Live Entertainment, Inc., has over three decades of experience writing and producing music. He has accumulated an extensive library of music masters and television shows featuring many of the biggest entertainers in music history. He has produced concerts that are recognized around the globe, used by music companies and television networks. He has earned Billboard's prestigious Number One Producer Awards on more than one occasion. He has been credited on more than 2,000 releases, including five different artists on the Billboard Charts at the same time.
The new World Nation Live Entertainment, Inc. website http://worldnationliveentertainment.com/ showcases the company's experienced team and its corporate strategy.
No splits or any reclassification of the shares of the company are required under the agreement.
Mr. John Coleridge, Chief Executive Officer of Clearwave Telecommunications, states, "We have identified a significant opportunity which we believe will reposition the public company in the 'Communications and Entertainment Sector.' We are delighted to say that we can bring to the shareholders a talented team whom boasts decades of extensive success in the Communications and Entertainment sector."
"World Nation Live Entertainment, Inc. is building upon its direct relationships with legendary performers and event production partners, and through the bridge of technology, will deliver cross platform interaction to expand reach while improving the creator and consumer value model," stated Darryl Payne, World Nation Live Entertainment, Inc. CEO.
The previous acquisition of Limitless Communications, Inc. will be terminated.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.