Rift Valley Resources Corp., Announces New Private Placement of Units

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October 02, 2018 8:30 AM EDT | Source: Rift Valley Resources Corp.

Completion of the private placement will be subject to a number of conditions including the approval of the Canadian Securities Exchange.

Rift Valley's management is greatly encouraged by recent developments in one of MetroLink Solutions Inc.'s (MetroLink) wholly owned US subsidiary, Ruralink Solutions Inc., which has completed construction of their first 7 "QwikCom" Modular Telecom Units (MTU's) at its Idaho fabrication facility, which can manufacture 20 QwikCom MTU's per month.

QwikCom MTU's are rapidly-deployed, modular telecom platforms which can be individually custom equipped to provide a varied range of communications and monitoring services including but not limited to:

Rural "last mile" wide area wi-fi coverage

High Throughput T.V. "White Space" systems for internet access over longer distances

Ability to be equipped with cameras monitors and sensors for reliable property and border surveillance.

Associated telecom system that can link video and other surveillance data by satellite to remote monitoring locations virtually anywhere in the world.

Multiple MTU's can be wirelessly interconnected to provide "Wide-area" coverage for communications, internet access or video surveillance.

Rift Valley's market research and feedback for the QwikCom units has shown interest from several industries and services applications for; disaster relief (FEMA) and first responder coordination (hurricane, floods, earthquakes), military communications, security and monitoring, border and property security, corporate social responsibility applications in remote areas, highway management, movie and festival industries and etc.

On July 26, 2018, Rift Valley and MetroLink signed a revised Letter of Intent, wherein, subject to satisfactory due diligence, shareholder and regulatory approvals, Rift Valley would purchase 100% of MetroLink's issued and outstanding shares for shares of Rift Valley on a one share for one share basis.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release. Contact: Rift Valley Resources Corp. Tel. 604-682-7339. Website: www.riftvalleyresources.ca

Source: Rift Valley Resources Corp.

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