VANCOUVER, Sept. 11 /CNW/ - MetroBridge Networks International Inc.
(TSX-V: MEB) a premier high-speed wireless broadband provider for business
with operations in Canada and the United States, is pleased to announce that
it is repaying its loan of $500,000 to Barlow Partners Income & Growth
Portfolio, substantially eliminating Long Term Debt from the Balance Sheet.
Dave King, CEO and President of MetroBridge said "We appreciate the
continued support of long-term MetroBridge shareholders like Barlow Partners,
and their sophisticated approach in helping us build our acquisition war
Christopher Morris, CFO of MetroBridge said, "We have over $8 million in
cash as a result of our recent public offering, and we believe that repaying
the loan to Barlow Partners is an excellent way to strengthen our balance
sheet in anticipation of future acquisitions and related financing
As part of the agreement to repay the outstanding $500,000, MetroBridge
will issue Barlow Partners 50,000 warrants priced at $0.60 and expiring
April 30th, 2009. All other obligations under the original loan agreement are
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 2500Mbps in Arizona and British Columbia. MetroBridge's
aggressive growth strategy includes acquisitions throughout North America and
additional complementary 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 in
establishing equipment interoperability. Please visit the Company's website at
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.
For further information:
For further information: Samantha Singh, MetroBridge Investor Relations
Direct,: (604) 628-5627, Toll Free: (888) 628-1240, Fax: (888) 628-2650,