March 18, 2005 — (WEB HOST INDUSTRY REVIEW) — Internet bandwidth, colocation and Web hosting provider Peer 1 Network (peer1.net) announced this week that it made a private placement of up to 5 million shares priced at $0.28 per common share.
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Peer 1, which trades on the TSX venture market, says proceeds of the private placement will be used for general working capital requirements.
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The transaction is subject to regulatory approval.
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Earlier this month, Peer 1 opened a new data center facility in Virginia to support its acquisition of dedicated server specialist ServerBeach.
