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Shift closes $4-million financing

Briefs | 03/13/2007 5:54 pm EDT

Calgary-based Shift Networks Inc. has closed the second round of a brokerage private placement worth nearly $2.4 million. This follows a previously closed placement of $1.7 million, bringing the total funding to almost $4.1 million. The proceeds will be used to support growth in six major urban markets in Canada as the company rolls out Shift 2.0, Shift’s next-generation hosted IP communications network. Remaining proceeds will be used for general working capital purposes.

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