Private Investment to Drive Continued Growth at Barrett Xplore
WOODSTOCK, NB, Dec. 21 /CNW/ - Barrett Xplore Inc., provider of Xplornet
Internet services, is pleased to announce that it has secured a series
of private investment arrangements that will allow it to move
aggressively to build Canada's first national fourth-generation
broadband network. Barrett will create a robust 4G broadband network
covering all of rural Canada by combining a new 4G WiMAX network of
roughly 1200 towers with a new satellite network using two new 4G
satellites. Totaling $55 million, the new investment consists of $30
million from existing investors and $25 million in new equity
investment. Among the new investors are Catalyst Investors (www.catalystinvestors.com) and Werklund Capital Corporation (www.werklundcapital.com).
"The range and size of these investments are a clear endorsement of the
Barrett Xplore Inc. mission, business model and vision of making Canada
an international rural broadband leader" said John Maduri, CEO of
Barrett Xplore Inc. "This investment allows us to finish the job we
started: to bring affordable, robust broadband to every rural
The deployment of the 4G terrestrial-wireless deployment began this
month in Quebec. Two 4th generation satellites will be launched; one
in 2011 and the second in 2012.
About Barrett Xplore Inc
Headquartered in Woodstock, New Brunswick, Barrett Xplore Inc. operates
Xplornet Internet Services, Canada's largest rural broadband provider,
with customers and dealers in every province and territory. Barrett
Xplore aims to bridge the urban/rural digital divide by ensuring that
every Canadian, regardless of where they live, has access to broadband,
thereby enabling them to compete effectively in the global economy and
gain access to essential government and educational services. For
additional information, please visit www.xplornet.com.
About Werklund Capital Corporation
Werklund Capital (www.werklundcapital.com) is one of Canada's largest family office investment companies. Based
in Calgary, Alberta Werklund Capital was founded by Mr. David P.
Werklund, a successful and respected Calgary businessman who built CCS
Inc. into one of Canada's largest environmental services companies.
WC's business philosophy is to achieve a reasonable return on its
capital by seeking investment opportunities in which Werklund Capital
can make a significant & positive contribution.
About Catalyst Investors
Catalyst Investors is a growth private equity firm founded in 2000.
Catalyst employs a rigorous top-down research focus that seeks to
identify investment opportunities in companies and industries that will
exhibit strong revenue and margin growth. The firm works in true
partnership with talented management teams to build long-term value and
is committed to investor transparency. Past and present Catalyst
portfolio companies include Advantage Business Media, Aloha Partners,
Aspire Media, Catalyst Repository Systems, Denali Spectrum, InSite
Wireless Group, Latisys, MessageLabs, MINDBODY, Nine Systems, TCP
Communications and Telemundo. For more information, visit http://www.catalystinvestors.com.
SOURCE BARRETT XPLORE INC.
For further information: For further information:
Media Enquiries: please contact:
Jeff Hecker, Senior Manager, Communications