Fuels Continued Growth of 4G Network Across Canada
WOODSTOCK, NB, June 13, 2012 /CNW/ - Xplornet Communications Inc. is
pleased to announce that it has successfully completed a $125 million
private financing. This additional funding, a combination of debt and
equity raised from its existing investors, is an endorsement of
Xplornet's rural broadband strategy and the company's strong
execution. The proceeds from this financing will be used to accelerate
the deployment of Xplornet's national 4G network and to expand network
capacity to meet the growing consumer demand for bandwidth.
John Maduri, Xplornet's Chief Executive Officer commented that:
"Xplornet is solving the broadband access divide in rural Canada, and
doing so largely with private capital. This new $125 million in
financing, following on the $230 million we raised last year, will help
ensure that Xplornet has the resources necessary to continue our
aggressive growth, and position us for continued success as one of
Canada's leading telecommunications companies."
This financing follows Xplornet's recent accomplishments including:
being the first Canadian telecommunications company to announce a
national 4G network, the acquisition of 100% of the Canadian capacity
on both new 4G satellites - ViaSat-1 launched in October and EchoStar
XVII (formerly Jupiter) to be launched this summer, and numerous
successful P3 initiatives to speed the development of broadband
networks in targeted regions across Canada.
About Xplornet Communications Inc.
Headquartered in Woodstock, New Brunswick, Xplornet Communications Inc.
is Canada's largest rural broadband provider, with customers and
dealers in every province and territory. Xplornet aims to bridge the
urban/rural digital divide by ensuring that every Canadian, regardless
of where they live, has access to broadband, thereby enabling them to
compete effectively in the global economy and gain access to essential
government and educational services. For additional information, please
SOURCE Xplornet Communications Inc.
For further information:
Jeff Hecker, Director of Marketing Communications and Public Relations