Kinetic Group Inc. (OTCPK:KNIT) signed a letter of intent to acquire GSS INFRASTRUCTURE LLC on May 18, 2022. The Transaction remains subject to certain conditions being met and completion of definitive documentation. Under the terms of the letter of intent KNIT will acquire GSSI in an all stock purchase.

As a result of the acquisition, KNIT will acquire all of GSSI's assets, including the binding LOI signed between GSSI and NTEC on March 31, 2022. At the closing of the GSSI-NTEC transaction KNIT will effectively own and operate 50 telecom tower sites, 187 equipment overlays and 267km of fiber. KNIT would also acquire three separate long term contracts with Telefonica Ecuador (OTECEL) to operate active and passive telecom infrastructure in Ecuador.