MetroBridge Announces Effective Date for 10:1 Issued Security Consolidation
Vancouver, British Columbia CANADA, Sep 14, 2009 (Filing Services Canada via COMTEX) --
Company: Metrobridge Networks International Inc (MEB)
MetroBridge Networks International Inc. (MEB - TSX Venture), announces that, further to its news release of June 24, 2009 and as approved by both the Company's shareholders and the TSX Venture Exchange, it will implement a consolidation of its issued securities on a ten old for one new basis and, at the open of trading on Tuesday, September 15, 2009, the Company's common shares will commence trading on the TSX Venture Exchange on a 10:1 consolidated basis under the current trading symbol "MEB".
The Company's transfer agent will be mailing to registered shareholders a Letter of Transmittal to enable shareholders to exchange share certificates of the Company for share certificates representing shares on a consolidated basis. No action is required by non-registered shareholders, who hold securities of the Company through an intermediary, to effect consolidation of their beneficially held securities.
The consolidation will provide the Company with increased flexibility when negotiating financing opportunities and making strategic acquisitions. Further details with respect to the consolidation are disclosed in the Company's Management Information Circular dated June 1, 2009, as electronically filed with regulators on June 10, 2009, which can be found under the Company's issuer profile on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About MetroBridge Networks International Inc.
MetroBridge, a leading international fixed wireless provider, delivers broadband wireless access using WiMAX and other advanced wireless technologies. Its highly redundant mission critical network provides connections up to 2500Mbps in Canada and the United States. MetroBridge's aggressive growth strategy contemplates acquisitions throughout North America and additional complementary products and services. The Company operates in all market segments including police and 911 services, the financial industry, retailers and businesses of all sizes. MetroBridge was the first Canadian carrier selected to join the WiMAX Forum(tm) to assist the industry in establishing equipment interoperability. Please visit the Company's website at www.metrobridge.com.
For further information please contact:
Martin Bajic, Chief Financial Officer
Toll Free: (888) 628-1240
Tel: (604) 628-1240
Fax: (888) 628-2650
mbajic@metrobridge.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of MetroBridge Networks International Inc. with respect to performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly from those disclosed herein. Investors are cautioned not to rely on these forward-looking statements. MetroBridge Networks International Inc. does not undertake to update these forward-looking statements except as required by law.
Source: MetroBridge Networks International Inc. (MEB - TSX-V) http://www.metrobridge.com
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Company: Metrobridge Networks International Inc (MEB)
Related terms: acquisition, bandwidth, business, canada, carrier, law, north america, police, products, securities, security, technology, wireless
