VICTORIA – Vecima Networks subsidiary YourLink has completed the first phase an agreement to sell off a portion of its 3.5 GHz radio spectrum licenses to Xplornet Broadband Inc.
The first phase involved the sale of 16 licences, predominantly in Alberta and Ontario, for $8 million. The company said that options exist for the sale of additional spectrum licences in the next three months, and has valued YourLink's remaining spectrum holdings at between $20 million to $30 million.
"We are delighted to conclude the first phase of this transaction," said Vecima CEO Surinder Kumar, in a statement. "This sale is further confirmation that Vecima holds assets that have a market value much higher than our historical cost."
