TeleLink subsidiary's fiber optic technology attracts first-round financing of $2 million

April 6, 2001

1 Min Read

VANCOUVER -- TeleLink Communications Corporation (CDNX: TCC) announced today that Trellis Capital Corporation, a private venture capital fund based in Toronto that invests in early-stage technology companies, has agreed to participate together with TeleLink in a $2.0 million initial round of financing for TeraSpan Networks Inc. Subject to regulatory approval of TeleLink's participation in the financing, the transaction is scheduled to close on April 30, 2001. TeraSpan designs and builds economical fibre optic networks for broadband communication companies seeking either to extend their existing metropolitan fibre networks or to provide services in smaller regional centers. This funding round will allow TeraSpan to extend its product and service offerings to large service providers in various parts of Canada in response to increased business and consumer demand for broadband communications.

"TeraSpan installs optical fibre at a fraction of the typical build-out costs in a fraction of the usual build-out times by using their patent-pending microfibre technology and their innovative deployment methodology. The reduced costs are of real benefit to telecommunications providers facing tight credit markets. TeraSpan's ability to lay fibre in a virtually non-intrusive way -- so that there is negligible disruption to businesses, consumers or local infrastructure -- is also extremely important to local governments," said Richard Alban, president and CEO of TeraSpan.

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