Author Archives: James Koole

Tucows Announces New Credit Facility for up to US$75 Million

TORONTO, August 18, 2016 – Tucows Inc. (NASDAQ:TCX, TSX:TC) today announced that it has entered into a new, syndicated five-year secured credit agreement for up to US$75 million, inclusive of a $15 million accordion facility (the “2016 Credit Facility”), with Bank of Montreal (“BMO”) and Royal Bank of Canada (collectively, the “Lenders”). The 2016 Credit Facility will be used to support share repurchases, acquisitions and capital expenditures associated with the Company’s Fiber-to-the-Home program, as well as general working capital and general corporate requirements.

“As planned, this new expanded credit facility provides us with additional financial resources and flexibility to support the ongoing build out of fiber infrastructure for Ting Internet,” said Elliot Noss, President and Chief Executive Officer.

This new facility refinanced and replaced the Company’s current US$14 million credit facility with BMO.

About Tucows

Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com) manages nearly 15 million domain names and millions of value-added services through a global reseller network of over 13,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (http://tucows.com).

This release includes forward-looking statements as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding our expected use of proceeds from borrowings under the 2016 Credit Facility. These statements are based on management’s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Information about other potential factors that could affect Tucows’ business, results of operations and financial condition is included in the Risk Factors sections of Tucows’ filings with the Securities and Exchange Commission. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. All forward-looking statements are based on information available to Tucows as of the date they are made. Tucows assumes no obligation to update any forward-looking statements, except as may be required by law.

TUCOWS® is a registered trademark of Tucows Inc. or its subsidiaries. All other trademarks and service marks are the properties of their respective owners.

Contact:
Lawrence Chamberlain
NATIONAL Equicom
(416) 848-1457
lchamberlain@national.ca

Charlottesville Joins the Elite Ranks of US Gigabit Cities

– Ting Fiber Network Reaches Thousands of Charlottesville Homes and Businesses and Growing Quickly –

CHARLOTTESVILLE, Va., June 15, 2015 — Starting last week, Charlottesville, Virginia residents did something very few people in the country can do. They signed up for Gigabit Internet service.

Gigabit Internet service refers to data uploads and downloads of up to a gigabit (or 1,000 megabits) per second. For those without an engineering degree, that is very, very fast. It puts Charlottesville on par with other pioneering US cities like Chattanooga, Tennessee and Lafayette, Louisiana, along with world-leading cities like Seoul, Stockholm and Tokyo. It creates a huge competitive advantage for Charlottesville businesses. It allows every member of a Charlottesville household to be streaming, gaming, video conferencing and browsing at the same time. It facilitates healthcare and fosters education.

The service is being provided by Ting (ting.com), a subsidiary of Tucows Inc. (Nasdaq:TCX) (TSX:TC).

Ting disrupted the mobile industry with its launch in 2012, offering shockingly fair pricing, usable interfaces and no-hold, no-transfer live customer support. In December, they acquired local Internet service provider Blue Ridge InternetWorks, who had already begun building a gigabit-capable fiber network under the streets and across the poles of Charlottesville. Since then, the combined team has been aggressively expanding that network and readying the service for launch.

The network now reaches about 3,000 homes and businesses, with a plan to cover the neighborhoods of North Downtown, Martha Jefferson, Locust Grove and Belmont in 2015 and the entire City in 2016. The service is available at ting.com/internet for just $89/month.

“Communities across the United States recognize the value of a widely available gigabit at a reasonable price, but few have it,” explained Christopher Mitchell, Community Broadband Networks Director, Institute for Local Self-Reliance. “Despite a lot of promises and announcements, I estimate that fewer than 50 of the nearly 20,000 towns and cities in the country currently have an affordable gig available to a reasonable amount of residents. Charlottesville should be proud and excited to join that club.”

“I am thrilled with how the network and the service are coming along and delighted for the people of Charlottesville, but I am not at all pleased with the timing of this press release,” grumbled Elliot Noss, CEO of Tucows and Ting. “AT&T and Comcast have managed to get press releases out years before their Gigabit services have come to market. Ours comes over a week after launch. We clearly need to pick it up a notch.”

About Tucows

Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com) manages over fourteen million domain names and millions of value-added services through a global reseller network of over 13,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (http://tucows.com).

CONTACT:

Media Contact:
Jesse Simms
416-535-0123 x1209
jsimms@tucows.com

Investor Contact:
Lawrence Chamberlain
416-815-0700 ext. 257
lchamberlain@tmxequicom.com