AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

November 02, 2005 09:00 ET

AireSurf Proposes Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 2, 2005) - AireSurf Networks Holdings Inc. (CNQ:AIRE) announces a proposed private placement of up to 15,000,000 units of the Company at a price of $0.10 per unit for gross proceeds of up to $1,500,000. Each unit is to be comprised of one class A voting share and one class A voting share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share at a price of $0.15 for a period of two years. 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.

Shares Outstanding: 25,561,328

Contact Information

  • AireSurf Networks Holdings Inc.
    Mr. Peter Gee
    Chief Financial Officer
    (905) 707-3445, ext. 119
    (905) 707-1931 (FAX)