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MetroBridge
MetroBridge Receives $2 Million Equipment Leasing Facility
VANCOUVER, B.C. November 27, 2007 – MetroBridge Networks International
Inc. (TSX-V: MEB) a premier high-speed wireless broadband provider for
business with operations in Canada and the United States, announced today
that it has entered into a $2 million equipment leasing facility with
Agility Ventures LLC.
Christopher Morris, Chief Financial Officer of MetroBridge
said, “We
are experiencing record growth both organically and through acquisitions,
and this leasing facility, our second with Agility, will provide us
with the means to fuel the growth in our existing and new markets.”
Bill
MacNamara, VP of Business Development at Agility Ventures, said, “We
see MetroBridge as a leader in the broadband industry and we are pleased
to provide MetroBridge with this facility.”
Subject to regulatory approval, MetroBridge will issue
307,692 warrants to Agility Ventures, priced at $0.65 and valid for 5
years, and an additional 461,359 warrants as the facility is drawn down,
which
is expected to be over the next year.
Additionally, MetroBridge has granted 200,000 incentive
stock options to Paul Haarer, VP Corporate Development, vesting over 3
years and exercisable at $0.35.
About Agility Ventures
Agility Ventures LLC specializes in financing and consulting exclusively
for the wireless broadband market. Founded and managed by successful
pioneers of the wireless broadband industry, Agility offers a compelling
value proposition for distributers, users, and manufacturers of wireless
technology. For more information, please visit their website at www.agilityventures.com.
About MetroBridge Networks International Inc.
MetroBridge, a leading international fixed wireless provider,
delivers broadband wireless access using pre-WiMAX and other
advanced wireless technologies. Its highly redundant mission critical
network provides connections up to 2500 Mbps in Canada and the United
States. MetroBridge’s
strategy is to grow aggressively through a combination of acquisitions
throughout North America, organic growth and complimentary value-added
products and services. The Company operates in all market segments
including police and 911 services, the financial industry, retailers
and
businesses of all sizes. MetroBridge was the first Canadian
carrier selected to join the WiMAX Forum to assist the industry
inestablishing equipment interoperability. Please visit the
Company’s
website at www.metrobridge.com.
For further information please contact:
Samantha Singh, MetroBridge Investor Relations
Toll Free: (888) 628-1240
Direct: (604) 628-5627
Fax: (888) 628-2650
ssingh@metrobridge.com
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release. This
press release contains certain forward-looking statements that reflect
the current views and/or
expectations of MetroBridge Networks International Inc.
with respect to performance, business and future events.
Such statements are subject to a number of risks, uncertainties and assumptions.
Actual results and events may vary significantly from those disclosed
herein. Investors are cautioned not to rely on these forward-looking
statements. MetroBridge Networks International Inc. does not undertake
to update these forward-looking statements. |
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