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Xplornet Communications completes $230 million private financing to expand broadband network across rural Canada

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Xplornet Communications Inc.

On May 24, 2011, Xplornet Communications Inc. (formerly Barrett Xplore Inc.), announced that it had successfully completed a $230 million private financing, one of the largest Canadian telecom financing announcements this year. The funds will be used to support and aggressively expand Xplornet's broadband network across Canada to the 2.4 million households that do not have access to real, affordable broadband, and to refinance some existing debt. Xplornet is headquartered in Woodstock, New Brunswick and is Canada's leading rural broadband provider, with customers and dealers in every province and territory. Xplornet was advised on regulatory aspects of this transaction by Fasken Martineau with a team that consisted primarily of Laurence Dunbar and Stephen Whitehead. Visit our Communications group for more resources on Internet Service Provider regulations and law in Canada.


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