United States or to U.S. News Agencies Metrobridge Networks International Inc.
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METROBRIDGE NETWORKS INTERNATIONAL INC.
45 West 7th Avenue Vancouver, B.C. V5Y 1L4 Tel. No. (604) 628-1240 ♦ Fax No. (604) 628-2650
MetroBridge Closes Private Placement
Vancouver, British Columbia – June 1, 2010 – MetroBridge Networks International Inc. (the “Company”) is pleased to announce that, further to its news release dated April 1, 2010, it has closed a non-brokered private placement amounting to 1,200,000 units (the “Units”) at a price of $0.12 per Unit for aggregate proceeds of $144,000. 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 $0.16 per share until June 1, 2015.
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 October 2, 2010, in accordance with applicable securities legislation. The proceeds of the private placement will be used for general corporate purposes.
The Company also announces that it will not be proceeding with the shares for debt transaction detailed in its news release dated November 11, 2009.
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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