CALGARY, Jan. 7, 2015 /CNW/ - Corridor Communications, Inc (O/A CCI or CCI Wireless) announced on December 30, 2014 that the Company has closed on debt financing of $9,500,000 with the Canadian Imperial Bank of Commerce (CIBC) consisting of a new term loan for capital projects, the refinancing of existing loans and a revolving operating line of credit for working capital needs.
Ako Ufodike, Chief Financial Officer for CCI Wireless commented that "this financing and transitioning of our banking relationship to CIBC is intended to support existing operations as well as position the Company for its next phase of growth".
ABOUT CORRIDOR COMMUNICATIONS, INC
Corridor Communications Inc. ("CCI" ) was founded in 2007 by a group of Gas CO-OP's who had the vision to deliver exceptional quality wireless broadband services to rural Alberta. CCI deployed and operates a 4G (4th Generation) wireless broadband network that enables fast, simple, portable, reliable and affordable internet and home phone communications in rural Alberta markets that had been previously un-served or underserved. Today CCI has grown into the largest Alberta based provider of rural broadband services and operates a carrier grade network that utilizes both LTE and WiMax technologies to bridge the digital divide while staying true to its grass roots origins.
SOURCE CORRIDOR COMMUNICATIONS, INC
For further information: Amir Bigloo, CEO, Phone (403) 250-5688; Ako Ufodike FCGA CPA(OR, USA), CFO, Phone (587) 952-0382