Public Mobile

Public Mobile

September 23, 2009 10:27 ET

Prominent Canadians Join OMERS in Backing Public Mobile

New Wireless Network Preparing for Launch

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2009) - Public Mobile continues to attract support and investment from Canadian investors and has recently received additional funding from a number of notable Canadian investors. Earlier this year, Public Mobile announced a $50 million investment from OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies.

The most recent investments in Public Mobile are from prominent, well-known Canadians, including Peter Thomson, Fred Eaton and Patrick Brigham.

"We chose to invest in Public Mobile because of its unmatched cost structure, sound business plan and proven Canadian management team," said Peter Thomson, President of Thomvest Seed Capital Inc., who has joined the Board of Directors of Public Mobile.

"A good, solid company will always attract Canadian investors. The support of successful Canadian entrepreneurs and investors highlights the importance of creating a more competitive wireless market in this country," said Alek Krstajic, Public Mobile's Chief Executive Officer. Also contributing money are Public Mobile employees who've put their personal funds on the table.

"It's deeply touching to see the people who work for Public Mobile so firmly behind this company," Krstajic continued. "I believe it represents the feelings of so many Canadians - that it's time for a change in the wireless industry."

Public Mobile is in the process of building a wireless network across Ontario and Quebec that will provide unlimited talk and text for $40 month.

About Public Mobile

Formed in 2008, Public Mobile is a new wireless entrant that received its license to provide talk and text services to 19 million Canadians across Ontario and Quebec commencing in the fourth quarter of 2009.

Contact Information

  • Public Mobile
    Lisa Papas