AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

June 14, 2007 14:57 ET

Airesurf Announces Proposed Private Placement and Settlement of Debt

TORONTO, ONTARIO--(Marketwire - June 14, 2007) - Airesurf Networks Holdings Inc. (CNQ:AIRE) announces a proposed private placement of up to 1,000,000 units of the Company at a price of $0.05 per unit for gross proceeds of up to $50,000. Each unit is to be comprised of one share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share at a price of $0.10 for a period of two years following the closing of the offering. The proceeds of the private placement will be used for general working capital purposes.

Completion of the private placement is subject to regulatory approval, including satisfaction of the requirements of the CNQ.

In addition, Airesurf announces that it has agreed to settle an aggregate of up to $70,000 of indebtedness through the issuance of an aggregate of 1,400,000 common shares in the capital of the Company at a price of $0.05 per share.

Shares Outstanding: 32,415,139

Contact Information

  • Airesurf Networks Holdings Inc.
    Mr. Robert McGowan
    Interim President
    (416) 368-9411
    (416) 861-0749 (FAX)