RENO, Nev., Feb. 09, 2023 (GLOBE NEWSWIRE) -- GlobalTech Corporation today announced that it is a fully reporting company. It has applied for and received a CUSIP number and is in the process of applying for a symbol.

GlobalTech through its acquisition of Worldcall Services (Pvt) Limited and Ferret Consulting FZC, UAE (Ferret) owns 58.5% of Worldcall Telecom Limited, a broadband and technology company based in Pakistan.

Worldcall Telecom Limited assets consist of Fiber network, FTTH, HFC plants that serve over 1 million homes passed, software development, and deployment of technical services.

We expect to commence the conversion of existing HFC customers to Fiber to the Home and expect the completion of all of our customers within the next 24 months. Additionally, we are currently in the process of designing the expansion of Worldcall Footprint to high-density areas in inner cities of Pakistan in order to provide low-internet access which is currently not available beyond the affordability of lower and middle customers.

Worldcall Telecom Limited trades on the Karachi Stock Exchange under the symbol WTL.

Dan Green, President of GlobalTech Corporation, commented, “These transactions continue the strategy we put forth beginning in late 2019. By acquiring Worldcall Telecom Limited, we are immediately one of the largest providers of broadband. We are immediately recognizing substantial cash flow that is accretive for GlobalTech shareholders. We know and understand the broadband industry extremely well and are very comfortable with the rate of return we are achieving.”

Dan Green
d.green@GlobalTechcorporation.com
www.globaltechcorporation.com

https://www.sec.gov/Archives/edgar/data/1938338/000147793223000203/global_1012ga.htm

Disclosure

Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to

• Projected financial performance of the Company.

• Completion of, and the use of proceeds from, the sale of the shares being offered hereunder.

• The expected development of the Company’s business, projects, and joint ventures.

• Execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth.

• Sources and availability of third-party financing for the Company’s projects.