Public Mobile secures CA$350 million in financing to expand network

Public Mobile

Public Mobile today announced that it had secured a financing deal worth CA$350 million with ZTE Corporation and the Export-Import Bank of China. The company will use the funds to expand its network beyond Toronto and Montreal (the latter launches on June 25th).

Public Mobile plans on expanding to Hamilton and Oshawa with Quebec City, Ottawa, and London to follow later. According to CEO Alek Krstajic: “By the end of this year, we’ll have continuous coverage from Hamilton up to Toronto.” Eventually, its wireless network will cover the entire Windsor to Quebec City corridor.

Just over a week ago, Public Mobile also announced a retail partnership with Gateway Newstands. The latter’s 152 locations, generally located in subway stations and shopping malls, will allow customers to buy phones as well as pay their bills.

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