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Globalstar, Inc. (OTCMKTS:GSAT) Agreement with Hughes Network Systems LLC

 
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Las Vegas, NV -- (SBWIRE) -- 12/17/2013 -- Globalstar, Inc. (OTCMKTS:GSAT) provides telecom services to the clients. The company offers mobile voice and data communications services. The company offers services via satellite to clients distributed across the world. The clients of the company include government, maritime and fishing firms, oil and gas companies, natural resource companies, mining and forestry; utilities and transportation agencies. There are more than 486,000 mobile subscribers of the company.

Globalstar signed an agreement to elect to acquire voting common stock of the company. The agreement partner Hughes Network Systems LLC can acquire voting common stock at a 7% discount.

Globalstar, Inc. says that Hughes exercised option on November 15, 2013. The company issued $1.35 par-valued 3,166,474 voting common stock to Hughes.

To find out what OTCMAGIC projects for Globalstar, Inc. for both short term and long term please click here: GSAT

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