/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE U.S./
MONTREAL, Nov. 21 /CNW/ - iWeb Group Inc. (TSX-V: IWB) ("iWeb" or the
"Company"), a worldwide internet hosting infrastructure provider, today
announced that it has filed a final short form prospectus in each of the
provinces of British Columbia, Alberta, Manitoba, Ontario and Québec,
qualifying an offering (the "Offering") of 3,300,000 common shares at a price
of $1.25 per share, for gross proceeds of $4,125,000.
A syndicate, led by GMP Securities L.P. and including Cormark Securities
Inc. and National Bank Financial Inc. is acting as the underwriters in
connection with the Offering. The closing of the Offering is expected to occur
on or about November 30, 2007, and is subject to usual regulatory approvals.
iWeb intends to use the net proceeds of the Offering to implement and
finalize phase 3 and advance phase 4 of the installation of its second data
The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an exemption from the registration requirements. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State in
which such offer, solicitation or sale would be unlawful.
About iWeb Group
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 http://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: Eric Chouinard, iWeb Group Inc., Chief
Executive Officer, (514) 286-4242 ext. 102, firstname.lastname@example.org; Kristen
Dickson, The Equicom Group Inc., Investor Relations, (416) 815-0700 ext. 273,