TPT Global Tech, Inc. Enters into Acquisition Agreement with Broadband Infrastructure, Inc., a Fiber Optic Construction Company located in South Carolina

SAN DIEGO, CA / ACCESSWIRE / August 1, 2023 / TPT Global Tech, Inc. (OTCBB:TPTW) www.tptglobaltech.com, a leading technology company located in San Diego, CA, announces that it has entered into an Acquisition Agreement for100% of the outstanding shares of Broadband Infrastructure, Inc. (BII), a builder of fiber optic infrastructure for telecom carriers and government agencies throughout the country. The Acquisition Agreement, with a total acquisition price of $9 million, comprises $6 million in a Promissory Note and $3 million in TPT Global Tech's Series E Preferred Stock. The Promissory Note may be paid from proceeds raised from the Company's existing Reg. A capital raise or an S-1 Registered Offering in conjunction with a capital raise and listing on a major U.S. Stock Exchange. The Form of Promissory Note shall be provided during the due diligence period but is subject to a security agreement on the assets being acquired. The Series E Preferred Stock is convertible into common stock at a 25% discount to market with an automatic conversion upon the Company uplisting to a major U.S. Stock Exchange. The closing is set no later than September 30, 2023, but may be extended. Closing is to include such that BII will be debt free except for an SBA loan outstanding for $500,000. Closing is subject to delivery of a) a valuation to which purchase price may be adjusted; and b) audits having been completed by the Company's auditors.

Broadband Infrastructure, Inc. has solidified its reputation as a trusted partner for telecom carriers and government agencies, exemplified by its extensive experience in designing, constructing, and maintaining fiber networks. Their commitment to delivering high-quality, reliable, and high-speed connectivity has earned them a prominent position in the broadband infrastructure sector.

The acquisition of BII would be a significant milestone in TPT Global Tech's growth and expansion plans. By incorporating BII's expertise, TPT Global Tech aims to strengthen its presence in the Southeast while enhancing its Smart City developments and wireless broadband services nationwide.

"Broadband Infrastructure Inc. has a proven track record as a renowned builder of fiber infrastructure throughout the country. Their expertise aligns seamlessly with our vision of delivering cutting-edge technology solutions," said Stephen J. Thomas III the CEO of TPT Global Tech. "This strategic acquisition empowers us to expand our capabilities, providing innovative connectivity solutions to our valued clients, while it also may also help us qualify for an uplisting to a major U.S. stock exchange."