MONTREAL, April 3 /CNW Telbec/ - iWEB GROUP Inc. - iWeb8.Com (TSX-V: IWB)
today announced it had obtained new financing of $1,000,000 from the Bank of
Montreal (BMO), over and above funds previously announced.
The additional amount will go toward purchasing server hardware to
provide iWeb's clients with dedicated server services, one of iWeb's niche
market that is enjoying substantial growth. It may also be used to acquire
other computer equipment for the company's two data centers. As things now
stand, these funds will allow for acquisitions beyond the financial year ended
September 30, 2007 and through the first quarter of 2008.
"After financing the expansion of our data centers, it was time to fund
the purchase of servers to be installed, for the most part, in phase two of
the iWeb-CL facility. It's mainly by leasing out this hardware that the
company will be able to maximize returns on its investment," stated Martin
Leclair, iWeb's Cofounder and Chief Operating Officer.
The additional debt will take the form of a 36-month term credit of
$1,000,000, at a rate of prime plus 2.5 %.
About iWeb Group Inc.
Founded in 1996, iWeb offers a full line of advanced web hosting services
either through shared hosting, dedicated servers or colocation in its own data
centers featuring 25,000 square foot of floor space and the latest
technological equipments. iWeb provides services in English, French and
Spanish to clients in more than 140 countries.
iWeb Group Inc. is listed on the TSX Venture Exchange under the IWB stock
symbol. For more information, visit the Company's website at
The TSX Venture Exchange Inc. does not accept responsibility for the
adequacy or accuracy of this press release.
For further information:
For further information: relating to this press release, please
communicate with our Chief Financial Officer, Marc Guindon, at (514) 286-4242
or visit our website at http://iWeb8.com/