MONTREAL, Feb. 4 /CNW/ - iWeb Group Inc. (TSX-V: IWB) ("iWeb" or the
"Company"), a worldwide internet hosting infrastructure provider, today
announced that it has increased its existing lending facility with the Bank of
Montreal ("BMO"). The existing term loans facility, which was for
$1.5 million, has been increased by $1 million, bringing the total credit
available with the BMO to $2.5 million.
iWeb intends to use this loan facility to fund servers to be integrated
in phase three of the installation of the Company's second data center. This
investment in servers and other necessary IT infrastructure will continue
expanding the company's dedicated hosting service offering.
The facility is available in term loans, bearing interest at the banks
prime lending rate plus 2.5% and payable in monthly installments over a period
of three years.
About iWeb Group Inc.
Founded in 1996, iWeb offers a full line of advanced IP hosting services
either through shared hosting, dedicated servers or co-location in three data
centers, featuring over 52,000 square feet of floor space and the latest
technological equipment. iWeb provides services in English, French and Spanish
to clients in more than 130 countries. For more information, please visit
www.sedar.com or the Company's website at www.iweb8.com.
Caution concerning forward-looking statements
This news release contains certain forward-looking statements. These
statements relate to future events or iWeb's future economic performance and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations. iWeb undertakes no obligation, and does not intend to, update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable law.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Marc Guindon, iWeb Group Inc., Vice-President
and Chief Financial Officer, (514) 286-4242 ext. 121, email@example.com; Kristen
Dickson, The Equicom Group Inc., Investor Relations, (416) 815-0700 ext. 273,