WINNIPEG – Craig Wireless has received a Tier 3 broadband radio service (BRS) license from Industry Canada covering southwestern Manitoba, including the Brandon and Dauphin regions.
The company said Wednesday that the issuance of the Western Manitoba BRS license represents the satisfaction of another condition to the completion of the sale of Craig’s Canadian spectrum assets to Inukshuk Wireless Partnership.
Upon the filing of an application to Industry Canada to transfer the license to Inukshuk, the portion of sale proceeds payable to Craig by Inukshuk is $3.2 million of the aggregate sale proceeds of $80 million, $60 million of which it has already received.
The amount remaining following the closing in respect of the Western Manitoba BRS license is $16.8 million, which is scheduled to be paid upon completion of certain conditions, including all requisite regulatory approvals.
