VANCOUVER, Aug. 15 /CNW/ - MetroBridge Networks International Inc.
(TSX-V: MEB) a premier high-speed wireless broadband provider for business
with operations in Canada and the United States has closed the $500,000
secured loan facility with Orange Capital Corp., announced previously in a
press release dated July 3, 2008.
The loan facility is for one year, and under the terms of the transaction
MetroBridge will pay interest only on a monthly basis, at a rate of 12% per
annum. In connection with the loan, MetroBridge will pay a fee of 2% of the
principal amount of the facility, and will issue 2,000,000 common shares to
Orange Capital priced at $0.05, subject to a four-month hold period.
About MetroBridge Networks International Inc.
MetroBridge, a leading international fixed wireless provider, delivers
broadband wireless access using WiMAX and other advanced wireless
technologies. Its highly redundant mission critical network provides
connections up to 2500Mbps in Canada and the United States. MetroBridge's
aggressive growth strategy contemplates acquisitions throughout North America
and additional complementary products and services. The Company operates in
all market segments including police and 911 services, the financial industry,
retailers and businesses of all sizes. MetroBridge was the first Canadian
carrier selected to join the WiMAX Forum(TM) to assist the industry in
establishing equipment interoperability. Please visit the Company's website at
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements that
reflect the current views and/or expectations of MetroBridge Networks
International Inc. with respect to performance, business and future events.
Such statements are subject to a number of risks, uncertainties and
assumptions. Actual results and events may vary significantly from those
disclosed herein. Investors are cautioned not to rely on these forward-looking
statements. MetroBridge Networks International Inc. does not undertake to
update these forward-looking statements.
For further information:
For further information: Samantha Singh, MetroBridge Investor Relations,
Toll Free: 1-888-628-1240, Direct: (604) 628-5627, Fax: (888) 628-2650,