CSI Wireless receives injection of capital

Avatar photo

CALGARY, Alta. — CSI Wireless has received a vote of confidence from its shareholders, as well as a healthy cash infusion after closing an offering of more than three million units on the TSX.

The Calgary-based company, which provides wireless and GPS technologies for the commercial trucking industry, received about $4.3 million, thanks to the offering.

The company plans to use the money to pay down debt and for working capital to fund the growth of its business.

“This injection of capital provides support for pursuing additional business opportunities that have recently come to CSI Wireless,” says CSI president and chief executive officer, Stephen Verhoeff. “This strengthening of our balance sheet is also important for working with some of our larger corporate customers.”

Avatar photo

Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.

Have your say

This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.