Clairvest Group Inc.

Clairvest Group Inc.
Wellington Financial LP

Wellington Financial LP

November 02, 2005 09:33 ET

Wellington Financial LP Commits $10 Million in Financing for Airborne Entertainment Inc.

TORONTO, ONTARIO--(CCNMatthews - Nov. 2, 2005) - Wellington Financial Fund II , a privately held specialty finance firm, announced today the closing of a $10 million financing commitment for Airborne Entertainment Inc.

"Wellington Financial has been a valuable partner to our management team and investor group since our first transaction with them in April 2004," said Garner Bornstein, Chief Executive Officer of Airborne Entertainment Inc.

"Airborne has a strong track record of success, and we are proud of our association with the company and its management team," added Mark McQueen, President and Chief Executive Officer of Wellington Financial LP. "This is demonstrated by the majority acquisition by CYBIRD Co. Ltd. in June, which was followed by the 'VC Deal of the Year' award by the Canadian Venture Capital Association a few weeks later. Airborne is one of Canada's most exciting and successful private companies."

Wildeboer Dellelce LLP of Toronto and Fraser Milner Casgrain LLP of Montreal provided legal advice in connection with this financing.

With the closing of this financing, Wellington Financial Fund II has now led more than $96 million in debt financings via 15 announced transactions since March 2004, making it the most active fund of its kind in Canada.

About Wellington Financial LP

Founded in 2000, Wellington Financial LP is a privately held specialty finance bridge lending, term and venture debt firm. Wellington Financial LP manages Wellington Financial Fund II, an $83 million debt fund that provides flexible term financing for private and public companies. Wellington transactions are generally between $2 million and $10 million, but the fund has issued term sheets up to $30 million due to its ability to syndicate transactions. Wellington clients vary in size, sector and business model, but generally have current year revenue of at least $5 million. Wellington is managed by a partnership controlled by Fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund II. Wellington's limited partners include several Canadian institutional investors, such as pension funds, life insurance companies and money managers. Please visit our website at

About Airborne Entertainment Inc.

Airborne Entertainment, a subsidiary of CYBIRD Co., Ltd., is a leading provider and publisher of premier mobile entertainment content and applications, including games, images, video, ringtones, ringbacktones and informational content. Airborne's product portfolio consists of original and branded properties including, Family Guy™, Donald Trump's Real Estate Tycoon™, Speed TV Mobile™, Maxim ToGo™ and Cosmo Mobile™. Airborne's products are available across wireless carriers in North America and Europe and the company provides retailers and branded destinations the ability to reach mobile consumers directly via premium and promotional channels. For more information, visit

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