TeraSpan Networks Inc., a subsidiary of Ignition Point Technologies Corp. (TSX:IPN), is selling dark fibre network assets to Shaw Cablesystems for $2.5 million.
As part of the deal, TeraSpan will continue to add additional fibre networks for Shaw, which is expected to add about $2 million in annual revenue for three years for TeraSpan.
The deal, which is subject to customary closing conditions, is expected to close by June 30.
Ignition Point's shares have not traded in the past week, staying at $0.22 a share; 52-week high: $0.47; 52-week low: $0.13.