China Wi-MAX Communications Enters Into Financing Agreement with AGS Capital Group

China Wi-Max Communications, Inc. announced a Reserve Equity Financing Agreement with AGS Capital Group (AGS). The contract mainly aims to acquire shares of China Wi-MAX common stock for $10 million in a two year period.

In a release, Steven Berman, who is president and CEO of China Wi-MAX, said that, "This funding plan will support China Wi-MAX's current operations by providing the necessary capital to allow the execution of our Business Plan, both organically and through merger and acquisition activities, in the rapidly expanding broadband telecommunications market in China, and international data services market. AGS is a strong financial partner, with a track record of successfully helping companies grow. We look forward to working closely with them to build sustainable value for our shareholders through a significant global business."

The Reserve Equity Financing is offered by AGS. It symbolizes less expensive and flexible financing that position China Wi-MAX in control of how and when it can raise equity and debt.

China Wi-MAX, with the help of one or more of its completely-owned foreign entities and partnership companies, will provide a broad range of telecommunications and internet services to customers located in buildings that are networked through its fiber and wireless assets. The company is planning to acquire growing Internet companies which include value-added telecommunications and a fiber transport and engineering companies having excellent growth and profit potential.

The company has signed a partnership with a PRC authorized Internet Service Provider. China Wi-MAX will be getting access to more buildings on Third Ring Road fiber in Beijing via this partnership. Also, this contract offers a framework to serve additional buildings by leveraging China Wi-MAX wireless assets. China Wi-MAX expects to utilize finance of up to $200K to complete interconnection to China Wi-MAX's Fourth Ring Road and also to fetch latest buildings onto the networks.

China Wi-MAX has entered into diverse partnerships and cooperation agreements for the transportation of fiber transport Hong Kong to mainland China cities and local termination on China Wi-MAX metro fiber. The Company focuses on investing in lighting dedicated fiber with network equipment. China Wi-MAX expects to make use of $300K to $500K to completely build out these network elements and commence marketing of International Virtual Private Line Services by leveraging the capital facility.