ERF Wireless inks investment banking agreements

ERF Wireless (OTC: ERFB) said that it has signed three investment banking agreements with a leading New York-based investment banking firm to assist in sourcing capital.

The investment banking firm was founded in 1925 and is one of the oldest in the United States. The firm manages two Morningstar-rated funds with over USD2.8bn of retail accounts, nearly 100 registered representatives and 20 investment advisors in six offices.

Under the first agreement, ERF Wireless has retained the investment banking firm as its exclusive financial advisor in connection with debt consolidation financing of up to USD5m of existing debt.

Under the second agreement, ERF Wireless has retained the investment banking firm as its exclusive financial advisor in connection with providing the cash portion of acquisition financing of up to USD20m. The planned acquisitions specifically target several organizations that offer accretive revenue and strategic value to the continued development and marketing of the wireless broadband products and services of ERF Wireless. Specific terms and conditions, which the company belives to be reasonable and attainable, must be met for these acquisitions.

The third agreement anticipates an up-listing to a national market and a public offering of USD30m on a firm-commitment basis. The planned public offering is subject to the company´s successful acquisition(s) of one or more companies meeting the requirements of the investment banking firm.

ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Wireless Bundled Services, ERF Wireless Messaging Services and ERF Network Operations. Its website is at http://www.erfwireless.com and http://www.energybroadband.com

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