NEW YORK, NY, Aug 05, 2020 (GLOBE NEWSWIRE) – via NEWMEDIAWIRE – iQSTEL Inc. (OTC: IQST), a leader in enhanced telecommunications service providers for the 21st century, continues to cleanse the balance sheet with further deleveraging. Two existing debtors, BHP Capital NY Inc and Jefferson Street Capital LLC, have agreed to an exchange at a premium to the current market of $ 0.11 / sh to pay off the debt in full.

The debts are paid in full, this includes all interest, fees, warrants, etc. Originally, the debt included a 50% discount on the market exchange rate, interest and other provisions. By fixing it at USD 0.11 / share, iQSTEL and shareholders not only benefit from the reduction in debt, but this market premium shows serious confidence in the ability of iQSTEL management to continue to implement their business plan. Any remaining share reserves will be released at the transfer agent. See the 8-K for full details.

Mr. Iglesias stated, “Over the past few months we have reached a number of settlements with our creditors, as disclosed in 8-Ks and subsequent press releases. We thank BHP and Jefferson for their support when we needed it and for their continued trust in our company after turning the corner and reporting net income in our subsidiaries, as described in last week’s press release. “

iQSTEL 8-K shelf:

https://www.otcmarkets.com/filing/html?id=14308755&guid=bAnFUqzm3kG1o3h

About iQSTEL Inc .:

iQSTEL Inc (OTC: IQST) www.iQSTEL.com is a US-based publicly traded company providing the leading enhanced telecommunications services in the 21st 2 carrier, corporate, enterprise and retail markets. Through its subsidiaries Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, IoT Smart Gas Platform, itsBchain, iQSTEL offers “one-stop shopping” for international and national VoIP services, IP-PBX services, and SMS exchange for A2P and P2P, OmniChannel Marketing, Internet of Things (IoT) applications (IoT Smart Gas Platform), international 4G and 5G infrastructure connectivity as well as blockchain-based platforms: Mobile Number Portability Application (MNPA) and Settlement & Payments Marketplace for VoIP, SMS and data.

About Etelix.com USA, LLC:

Etelix.com USA LLC www.etelix.com is a wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is an international telecommunications provider founded in 2008 and based in Miami, Florida, offering telecommunications and technology solutions worldwide, with a commercial presence in North America , Latin America and Europe. Etelix provides international long-distance voice services to telecom operators (ILD Wholesale) and submarine fiber optic network capacity for the Internet (4G and 5G) thanks to its 214 license granted by the Federal Communications Commission (FCC). Etelix was founded in 2008 and has been profitable since its inception.

About SwissLink Carrier AG:

SwissLink Carrier AG www.swisslink-carrier.com is a 51% subsidiary of iQSTEL Inc. SwissLink Carrier AG is a Switzerland-based international telecommunications provider that was founded in 2015 and offers international VoIP connectivity worldwide, with a commercial presence in Europe, CIS and Latin America. SwissLink Carrier AG is an operator licensed in Switzerland with a domestic interconnect connection with Swisscom, which enables its international carrier customers to make direct termination via SwissLink in all Swiss fixed and mobile networks. They have been operating profitably since taking over Swissphone in November 2018 and renaming it to SwissLink.

About QGlobal SMS LLC .:

QGlobal SMS LLC www.qglobalsms.com is a 51% subsidiary of iQSTEL Inc. QGlobal SMS is a US-based company and commercial brand founded in 2020 that specializes in international and domestic SMS termination with Focus on Applications to Person (A2P) and Person-to-Person (P2P) for the wholesale carrier market and the corporate market in the United States. QGlobal SMS has a commercial presence in the United States, Mexico, Latin America, EMEA (Europe, Middle East, Asia) and Africa through our SMS service providers based in Austin, TX and Miami, FL. Our Austin-based SMS service provider specializes in the SMS traffic exchange between the United States and Mexico, and our Miami-based SMS service provider focuses on developing Latin America and the rest of the world. QGlobal SMS has a robust international connection with Tier1 SMS aggregators, which guarantees its customers high quality and low termination rates in more than 100 countries around the world.

About Alcyon Cloud SMS SAS (trademark SMSDirectos.com):

Alcyon Cloud SMS SAS (trademark SMSDirectos.com) is a wholly owned subsidiary of QGlobal SMS, a Colombia-based application and content provider. Alcyon Cloud SMS (SMSDirectos.com) is registered with the Ministry of Information and Communication Technology (ICT) in Colombia and provides services to government, corporate, small and medium-sized businesses and end users. Using the existing network of SMSDirectos, they plan to expand the services of SMS to offer omnichannel products and services, such as: SMS, emails, RCS (Rich Communications Services), social media channels (Whats App, Messenger etc.), time communication), VoIP (IP-PBX, SIP trunking), ChatBots (based on artificial intelligence), SMS to email and email to SMS.

About IoT Labs MX SAPI:

IoT Labs MX SAPI www.iotlabs.mx, a subsidiary of iQSTEL Inc, is a Mexican technology development company for the Internet of Things (IoT) that has developed the platform and application “IoT Smart Gas”. The IoT Smart Gas platform www.iotsmartgas.com consists of an IoT field device installed on the liquid gas tank (adaptable to practically any gas or liquid storage device) and, thanks to the Internet of Things (IoT) technology, enables remote-controlled connectivity via Sigfox or GSM network and improved logistical processes of refilling, consumption tracking and tank monitoring in real time through the mobile Smart Gas app. The new GSM tracking function enables mobile use including ground, air and sea tank monitoring.

About itsBchain LLC .:

itsBchain LLC www.itsBchain.com is a 75% subsidiary of iQSTEL Inc. itsBchain is a developer and solution provider for blockchain technology with a strong focus on the telecommunications sector. The company is the final stage in the development of a line of blockchain solutions that aim to use the blockchain ledger and smart contract solutions to enable greater efficiency, faster execution and fraud prevention in the telecommunications industry. Specifically, the company is developing a solution that will enable users and carriers to transfer cell phone numbers with just a few clicks, giving users and carriers the ability to instantly transfer retail users from one carrier to another. In addition, the company is finalizing a carrier-grade marketplace solution to procure inter-carrier payments for cross-traffic from VoIP, SMS and data in real time while the traffic is crossed between carriers. This marketplace will enable instant payment processing as well as fraud prevention between carriers.

Safe Harbor Declaration: Statements in this press release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or other statements regarding our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business, some of which are based on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. As a result, actual results and results can and will differ materially from those expressed or projected in any forward-looking statements due to numerous factors. All forward-looking statements speak only as of the date of this press release and iQSTEL Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

iQSTEL Inc.

IR US phone: 646-740-0907, IR email: [email protected]

Source: iQSTEL Inc. and its subsidiaries:

www.iqstel.com; www.etelix.com; www.swisslink-carrier.com; www.qglobalsms.com; www.smsdirectos.com; www.iotlabs.mx; www.iotsmartgas.com; www.itsBchain.com