BURNABY, British Columbia—Unity Wireless Corp. said it closed a $2.2 million three-year debt financing by institutional investors.
The company, which develops wireless subsystems and coverage solutions, said it plans to use proceeds from the transaction for general corporate purposes.
The company issued $2.2 million of 8-percent secured convertible debentures due Feb. 28, 2009, which are convertible into common stock at 16 cents per share.