Q9 Networks Completes Second Round of Financing

On April 5, 2001, Q9 Networks Inc., a leading Canadian Internet infrastructure and managed services provider, completed an $88.5 million second round of equity financing. This round follows equity financings totalling $26.5 million completed in April 2000 and August 2000. Second-round financing was provided by Scotia Merchant Capital Corporation, OMERS, TD Capital Canadian Private Equity Partners, J.L. Albright Venture Partners, VenGrowth Capital, e-Scotia Acquisition Inc., Shaw Ventures and Working Ventures. Scotia Capital Inc. and Griffiths McBurney & Partners acted as agents for the private placement. Previous financing rounds were provided by J.L. Albright Venture Partners and VenGrowth Capital.

McCarthy T├ętrault acted for Q9 Networks Inc. with a team led by Andrew Parker and David Rounthwaite (corporate). Patrick Phelan, Philippe Tardif and Lisa Erdos of Lang Michener acted as counsel for the private equity investors and John Vettese of Cassels Brock & Blackwell LLP acted for the agents in the second round of financing.