/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
MONTREAL, Nov. 30 /CNW/ - iWeb Group Inc. (TSX-V: IWB) ("iWeb" or the
"Company"), a worldwide internet hosting infrastructure provider, today
announced the successful closing of its recently announced offering of
3,300,000 common shares at a price of $1.25 per common share, for gross
proceeds of $4,125,000. The offering was made through a syndicate of
underwriters led by GMP Securities L.P. and that included Cormark Securities
Inc. and National Bank Financial Inc.
Net proceeds of the offering will be used to implement and finalize phase
3 and advance phase 4 of the installation of its second data center.
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, email@example.com; Kristen
Dickson, The Equicom Group Inc., Investor Relations, (416) 815-0700 ext. 273,