United States or to U.S. News Agencies Metrobridge Networks International Inc.
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METROBRIDGE NETWORKS INTERNATIONAL INC.
918-1030 West Georgia Street Vancouver, B.C. V6E 2Y3 Tel. No. (604) 628-1240 ♦ Fax No. (604) 628-2650
MetroBridge Closes Private Placement
Vancouver, British Columbia – January 15, 2010 – MetroBridge Networks International Inc. (the “Company”) is pleased to announce that, further to its news release dated November 16, 2009, it has closed a non-brokered private placement amounting to 1,100,000 units (the “Units”) at a price of $0.23 per Unit for aggregate proceeds of $253,000. Each Unit is comprised of one common share of the Company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of $0.30 per share until January 15, 2015.
A cash finder’s fee of $18,400 was paid, and a warrant to acquire 80,000 common shares of the Company at an exercise price of $0.30 until January 15, 2015 was issued, to an arm’s length person who introduced the Company to certain investors.
Shares acquired by the placees are, and shares which may be acquired upon the exercise of the share purchase warrants will be, subject to a hold period until May 16, 2010, in accordance with applicable securities legislation. The proceeds of the private placement will be used for general corporate purposes.
For further information please contact:
Martin Bajic, Chief Financial Officer Toll Free: (888) 628-1240 Tel: (604) 628-1240 Fax: (604) 628-2650 [email protected]
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