Mobilicity raises CA$215 million of new financing

Mobilicity

Mobilicity today announced that it has raised CA$215 million through a debt offering. It provides the carrier with “growth capital to further strengthen its customer experience across Canada.”

“Mobilicity has a compelling business model and the best value proposition for consumers and we are excited about getting additional support from Canada’s financial community,” said President and Chief Executive Officer Dave Dobbin.

“Today’s news, made just two weeks shy of the first anniversary of our Toronto launch and on the heels of our successful launch in Calgary yesterday, confirms Mobilicity’s place as the leading, innovative new entrant in Canada’s wireless industry,” Dobbin added. “We are very well positioned for future growth and opportunities.”

Mobilicity, a privately held company, did not provide information on its subscriber numbers. The one time it did reveal these numbers was in December 2010 when it confirmed it had over 50,000 subscribers. RBC more recently estimated that it had about 94,000 subscribers.

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