CiG Wireless Corp. a leading independent owner and operator of wireless communications infrastructure in the United States and Liberty Towers, LLC, a privately owned, Washington D.C. based communications tower company, jointly announced today that they have entered into an agreement whereby CiG will acquire certain telecommunications assets from Liberty. The assets to be acquired are as follows: 

• Thirty-Eight (38) tower sites that are fully constructed or generating revenue,
• Two Hundred Fifty-Two (252) work-in-progress sites.

Upon completion of the acquisition, CiG will assume all obligations under contractual agreements pertaining to the assets, including leases, license agreements and permits. 

The purchase price for the acquisition is $33,215,000, which will consist of payments to be made in cash and restricted shares of CiG common stock.  The target closing date for the transaction is June 30, 2013.  The closing will be subject to completion of satisfactory due diligence by CiG and other closing conditions.

Additional information related to the transaction is included in a Form 8-K filing which can be viewed at CiG’s website.

“We look forward to completing this acquisition,” said Paul McGinn, President and CEO of CiG. “The Liberty portfolio will significantly expand our tower footprint as well as provide us with excellent future development opportunities.”

“Liberty is looking forward to bringing its base of tower assets and greenfield development opportunities, along with our seasoned industry veterans and diverse industry experience to CiG's business," said Michael Hofe, President and COO of Liberty. 

“We look forward to working together and to contributing Liberty’s talents and skills to maximize our new relationship with CiG,” added Eric Sivertsen, CEO of Liberty.