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CONNECTED MINERALS LIMITED — Capital/Financing Update 2016
Aug 1, 2016
64669_rns_2016-08-01_ce842749-d04a-4102-9860-a075c89691ca.pdf
Capital/Financing Update
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2 August 2016
Company Announcements Office Australian Securities Exchange 10[th] Floor 20 Bond Street SYDNEY NSW 2000
G8 COMMUNICATIONS ANNOUNCES AT&T CERTIFICATION AND CAPACITY TO START DISTRIBUTION THROUGH ONE OF THE WORLD’S LARGEST NETWORKS
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G8C have completed PTCRB certification required by AT&T having already been in the AT&T foundry for over 4 months. Formal certification sign off allows G8C to deploy its products throughout the AT&T and T-Mobile networks.
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AT&T and T-Mobile combined represent over 75% of Machine to Machine (“M2M”) data lines in the United States. This opportunity quadruples the company’s potential market in the United States and is seen as a significant achievement in the first 5 months since the company’s listing on the ASX.
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G8C will commence distribution of its Wireless Modem and Wireless Router products to AT&T in August 2016. These products alone in the AT&T network have the potential to attract hundreds of thousands of purchase orders.
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Further updates to the market are anticipated in coming weeks as first purchase orders are made.
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G8C continues to grow its relationships with other major communications companies such as Verizon, Vodafone, Telstra, Telefonica and others. Purchase orders through these relationships continue to grow.
G8 Communications Limited ABN 99 009 076 233 Level 24, 44 St Georges Tce, Perth WA 6000 T +61 8 6211 5099; F +61 8 9218 8875
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The Board of G8 Communications Limited (“G8C”) is pleased to advise its wholly owned subsidiary Connected IO has completed formal certification with AT&T which will allow for deployment of its wireless modem and router products in August 2016.
Initial discussions with AT&T indicate significant product orders can be anticipated, potentially in the hundreds of thousands. The company though its manufacturing facilities in China and Taiwan has capacity to produce six hundred thousand units a year which at full capacity equates to approximately USD$75 million in revenues to G8C.
AT&T deliver advanced mobile services, next generation TV, high-speed internet and smart solutions for people and businesses. AT&T provide solutions to 3.5 million businesses on 6 continents including almost all of the Fortune 1000 companies. This relationship provides G8C with a significant platform on which to expand sales in the United States.
AT&T’s mission statement is to connect people with their world, everywhere they live, work and play, and to do it better than anyone else. The relationship with G8C will provide AT&T with the latest wireless connectivity and next generation solutions.
G8C Chief Executive Officer Yakov Temov said “the completion of certification with AT&T is a big step in G8C’s evolving business and one which was not anticipated at the time of the Company’s recent ASX listing. It will provide avenues to increased connectivity and communication to many M2M applications and business to business solutions, having the potential to significantly increase the Company’s revenues”.
About G8 Communications
Connected IO, G8 Communications wholly owned subsidiary is US based wireless technology innovator and manufacturer operating in the multi billion-dollar Internet of Things (“IoT”) space. G8 specialises in machine to machine (“M2M”) connectivity, providing hardware solutions for some of the world’s largest companies including Coca Cola, Verizon and now AT&T. G8’s software solutions also include a customised cloud management interface and variety of support services. Cisco predicts there will be 50 billion connected devices by 2020.
G8 Communications Limited ABN 99 009 076 233 Level 24, 44 St Georges Tce, Perth WA 6000 T +61 8 6211 5099; F +61 8 9218 8875
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Further information please contact:
Yakov Temov (USA) - [email protected] Jason Ferris (Aus) - [email protected] www.g8communications.com
G8 Communications Limited ABN 99 009 076 233 Level 24, 44 St Georges Tce, Perth WA 6000 T +61 8 6211 5099; F +61 8 9218 8875