Dear business associates,

GlobalRoam announces that the company has entered into a loan agreement whereby MediaRing will advance GlobalRoam an interest-free principal amount of S$5.5M  over 5 years. In consideration of the interest-free loan, GlobalRoam will issue warrants at S$0.41 to MediaRing. The funds will be used by GlobalRoam solely for working capital purposes and to finance the upcoming projects secured earlier in the ordinary course of business.

Moving ahead, the focus of the company will be to drive and execute the tier 1 telco projects in China (China Unicom) and Thailand. The company looks forward to the project launches as it steer towards the success and profitability of the company.