Xplornet raises additional $125M for rural broadband network

WOODSTOCK, NB – Xplornet Communications has received a $125 million private investment that it says will help to accelerate the deployment of its national 4G network and to expand network capacity to meet the growing consumer demand for bandwidth. The company said Wednesday that the additional funding, a combination of debt and equity raised from its existing investors, is an endorsement of its rural broadband strategy and strong execution. "Xplornet is solving the broadband access divide in rural Canada, and doing so largely with private capital”, said CEO John Maduri, in a statement. “This new $125 million in financing, following on the...