TORONTO-WaveRider Communications Inc., provider of non-line-of-sight wireless broadband technology and deployments, said it has completed the private placement of $2.125 million of convertible debenture financing.
“We believe this debenture financing puts WaveRider on a stronger financial footing, which will allow us to enhance our customer relationships and increase our customer base,” said Bruce Sinclair, chief executive officer of WaveRider. “In addition, this financing will help to support WaveRider’s global product and marketing strategy that includes the development of new products for international markets and the introduction of WiMax-certified products.”
The company expects to receive $2 million cash in net proceeds from the financing.
