NEW YORK, NY / ACCESSWIRE / May 26, 2021 / Charge Enterprises Inc. (OTC PINK:CRGE), connecting people everywhere with communications, infrastructure and charging, issued an update to shareholders today:
To Our Valued Friends and Shareholders:
We hope that this finds you well and enjoying the warmer weather. We at Charge continue to execute our strategy, and wanted to bring you an update on the highlights of the past 60 days since our last update.
- We issued our first quarterly results release as a public company, reporting our first quarter 2021. We generated over $110 million in revenue and we're excited for Q2. You can read the full report here.
- We have successfully acquired Advanced Network Services (ANS), a turnkey provider of direct current (DC) power installation, 5G and small cell telecommunications services. ANS is a game changer for Charge: the addition of ANS, the company referenced in our March 5th press release announcing the signing of a non-binding letter of intent, brings Charge proven expertise that scales our Infrastructure Division's capability, advances our strategy in 5G and enhances our vision of electronic vehicle (EV) installation. ANS also augments our Communications Division's telecom client set with complementary relationships with the largest telecommunications, enterprise and government customers already in the ANS fold. We raised $16.5 million in debt financing to fund the transaction, proceeds will be used to fund the acquisition of ANS along with ongoing operations.
- In another effort to support our mission to install and support electric vehicle, micro-mobility and personal charging infrastructure, we led a North American group of investors that made a strategic investment in London-based EV station manufacturer Connected Kerb, who provides a smart cities infrastructure platform that integrates both power and data curbside to support electric and autonomous vehicles. The investment supports commitment to invest locally to strategically build pipelines for our global future installs. Connected Kerb's vision is to create smart, sustainable and future-proofed streets for pedestrians, cyclists and drivers, with a focus is on-street residential charging where residents do not have access to off-street parking, and perfectly complements our vehicle-agnostic "pickaxe and shovel" vision of EV charging and portable powerbanks. Our goal is to install and maintain it across the UK.
- We continued our marketing push in showcasing the Charge story with analysts and investors. I presented at the Benzinga Small Cap conference and was also featured on CEO Roadshow and encourage you to watch the interview here. Charge was also featured in TechforGood Issue 10, and as part of our presentation at Planet MicroCap Showcase, I spoke with SNNLive.
- With respect to our path to uplisting, we continue to target listing on an national accredited exchange by year-end.
The ANS acquisition transforms Charge as a company and gives us a tremendous opportunity and a strategy to capture it. All automotive companies are migrating their entire fleets to electric; only 100,000 charging stations exist domestically today while at least 10 million EV charging stations are going to be needed to be installed over the next ten years. (https://www.statista.com/statistics/952075/electric-vehicle-charging-infrastructure-demand/ ) The installation of the charging stations is the most significant point of pain and friction, this is the critical component of our infrastructure division. We look to become the guide and partner through the entire lifecycle of an EV charger project, from location selection to engineering, installation, testing, and maintenance.
We remain focused on execution and are selectively investing our growth, with an emphasis on creating jobs, job safety and serving the communities we will operate in.
Going forward, as we are now reporting quarterly results, we plan to provide these shareholder letter updates every two months. In the meantime, please reach out to us if you have questions. We will continue to keep you posted on our progress, accomplishments and results.
Andrew Fox
Founder and CEO
About Charge Enterprises Inc.
Charge Enterprises Inc; With a mission of connecting people everywhere with a strategy in telecom network infrastructure, connected calls, power banks, EV charging infrastructure installation and maintenance. Trading under the Ticker: CRGE. We're a public company that shares our success with all stakeholders.
Our business operates in three distinct divisions through a number of recently acquired, or newly formed subsidiaries, including:
- Charge Communications, with a strategy to offer Unified Communication as a Service (UCaaS) and Communication as a Platform Service (CPaaS), providing termination of both voice and data to Carriers and Mobile Network Operators (MNO's) globally for over 2 decades.
- Charge Infrastructure, addresses telecom network infrastructure, including 5G small cell installation, portable power banks, micro-mobility charging, and EV charging installation, stations & maintenance.
- Charge Investment, along with marketable securities, the investment division focuses on opportunist investments in EV and telecom related businesses
Charge's strategy is to do the unglamorous part of connecting calls and powering the future of movement.
We have recently acquired a number of subsidiaries, through which we operate our three business divisions.
To Learn more about Charge, visit https://www.charge.enterprises/.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Charge Enterprises, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Charge Enterprises, Inc. cautions you that any forward-looking information provided by or on behalf of Charge Enterprises, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Charge Enterprises, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Charge Enterprises, Inc.'s control. In addition to those discussed in Charge Enterprises, Inc.'s press releases, public filings, and statements by Charge Enterprises, Inc.'s management, including, but not limited to, Charge Enterprises, Inc.'s estimate of the sufficiency of its existing capital resources, Charge Enterprises Inc's ability to raise additional capital to fund future operations, Charge Enterprises, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Charge Enterprises, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Charge Enterprises, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT:
LHA Investor Relations
Carolyn Capaccio, CFA
ccapaccio@lhai.com
212.838.3777
SOURCE: Charge Enterprises Inc.
View source version on accesswire.com:
https://www.accesswire.com/649071/Charge-Enterprises-May-2021-Shareholder-Letter
