AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

October 16, 2007 15:29 ET

AireSurf Closes Second Tranche of Private Placement

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2007) - AireSurf Networks Holdings Inc. (CNQ:AIRE) announces that further to its press release dated July 18, 2007 announcing a proposed private placement of up to 2,500,000 units of the Company, it has completed the second tranche of 2,000,000 units at a price of $0.05 per unit for gross proceeds of $100,000. Each unit is comprised of one common share and one common share purchase warrant, each warrant entitles the holder thereof to acquire a common share for a period of two years from the date of issuance, exercisable at a price of $0.10 per share. The proceeds of the offering 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.

Shares Outstanding: 35,705,806

Contact Information

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