Business
Viper Networks Signs Agreement for Smart Cities Projects Funding with Global Sustainable Initiatives, Inc.
Viper Networks Signs Agreement for Smart Cities Projects Funding with Global Sustainable Initiatives, Inc..
About this update from Viper Networks, Inc.
[{"type":"text","content":"\n TROY, Mich., Dec. 01, 2022 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink: VPER), a fast-emerging leader in the LED Street Lights products and integrated Smart Cities systems and solutions market, is pleased to announce that the Company has just concluded an agreement with Global Sustainable Initiatives, Inc. to directly raise capital through state grants and private investments in Smart Cities projects for the state of Illinois and other governmental or private entities in North America and worldwide. The agreement is contingent on the State of Illinois providing funding or any other funding Global Sustainable Initiatives is able to secure. Currently, both Global Sustainable and Viper Networks are focused on launching Public Private Partnership (PPP) projects with municipalities in the Southwest Conference of Mayors, which is comprised of twenty-one suburban communities in southwest Cook County in Greater Chicago, starting with the city of Palos Hills which is expected to be announced shortly. For each new agreement or Public Private Partnership project that Global Sustainable Initiatives enters into and successfully funds, Viper Networks shall contribute common stock valued at $0.05 USD per share at the rate of $2 of stock value for each $1 of grant money or private investment funding received. The Company is expecting separate grant amounts of $5 million or greater. Noting such, a $5 million grant disbursement would activate project deployment with Viper Networks contributing 200,000,000 restricted common shares or equivalent Proffered Class B shares until common is available. Viper Networks will be the exclusive design, build, operate and transfer (DBOT) with Global Sustainable Initiatives who will hold real estate and license agreements with government agencies to raise private funding and attract public funding for additional Smart Cities projects. All net revenues generated from smart lights and poles will be shared 50/50 between Viper Networks and Global Sustainable. Viper Networks’ personnel staff will work directly with authorized staff at the municipalities to manage and deploy all hardware and software to integrate all smart poles to the municipality’s infrastructure. The first phase is targeting installation of smart poles by early 2023, with approximately 2,000 total smart poles to be completed b...