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NAPLES, FL -- (Marketwired) -- 03/01/16 -- FTE Networks, Inc. (OTCQB: FTNW) ("FTE" or the "Company"), a leading networking infrastructure service solutions provider in the technology and telecommunications vertical, is pleased to announce that it has been approved to upgrade its common stock from the Pink® Open Market to the OTCQB® Venture Market, effective today, March 1, 2016. The Company's common stock will continue to trade under its existing "FTNW" symbol.
Speaking about the change in the trading market, Michael Palleschi, CEO of FTE Networks stated, "The upgrade of our common stock to the OTCQB Venture Market reinforces our commitment to building a strong, profitable business and improve liquidity for our shareholders. As we continue to grow and upgrade in the market, we believe this will enhance our credibility in the telco and technology markets we serve and attract a wide base of shareholders."
The OTCQB Venture Market, operated by OTC Markets Group Inc., offers transparent trading in entrepreneurial and development stage companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for FTE Networks at http://www.otcmarkets.com/stock/FTNW/quote.
About FTE Networks, Inc.
FTE Networks, Inc., and its wholly owned subsidiaries, is a leading international networking infrastructure service solutions company. We design, build, and support telecommunications and technology systems and infrastructure services for Fortune 500 companies operating four (4) industry segments: Data Center Infrastructure, Fiber Optics, Wireless Integration, and Surveillance & Security. FTE Networks is headquartered in Naples, Florida, with offices throughout the United States and Europe.
Forward Looking Statements
This release may contain forward-looking statements relating to the business of FTNW. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on FTNW's current expectations and beliefs concerning future developments and their potential effects on FTNW. There is no assurance that future developments affecting FTNW will be those anticipated by FTNW. FTNW undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Contact:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
Email: ir@ftenet.com
Investor Relations
Porter, LeVay & Rose
Michael Porter or Matthew Abenante
(212) 564-4700
Email: matthew@plrinvest.com
Source: FTE Networks, Inc.
Released March 1, 2016