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MetroBridge Networks completes reverse take over of Huntingdon Capital and its US$8 million public offering

Fasken
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Client

MetroBridge Networks

On July 30, 2007, MetroBridge Networks International Inc., a premier high-speed wireless broadband provider for business in British Columbia with operations in Arizona, announced that it had successfully completed its reverse take over of Huntingdon Capital Inc. MetroBridge also announced the closing of its previously announced public offering of units at $0.60 per unit for total gross proceeds of approximately $8 million. Each unit consists of one common share and one common share purchase warrant, exercisable for a period of 24 months at $0.65. The public offering was effected through a syndicate of agents led by Canaccord Capital Corporation and included Jennings Capital Inc. and Wellington West Capital Inc. On August 29, 2007, the agents exercised an overallotment option to purchase units from MetroBridge for an additional $1 million. MetroBridge was advised in these transactions by a team from Fasken Martineau that included Blair Horn, Georald Ingborg, Melody Schalm and Karima Penman (securities) and Frank Schober (tax).

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