Xplore Announces Finalization of $375 Million in Financing Commitments to Expand Fibre Broadband Access in Rural Canada
Thursday, June 12, 2025
Canadian Infrastructure Bank and other investors to provide funding for completion of upcoming fibre builds
MARKHAM, ON, June 4, 2025 /CNW/ - Xplore Inc., the leading provider of Internet services to Canadians in rural communities, announced today that it has now finalized an aggregate of $375 million in previously announced financing commitments from the Canada Infrastructure Bank (CIB) to support increased broadband access for rural and remote communities.
The CIB financing - combined with contribution agreements from federal and provincial governments and private investment from Stonepeak (Xplore's controlling shareholder) and other institutional investors - means that Xplore has finalized all funding required to complete its upcoming fibre builds.
Xplore's next-generation fibre Internet service will be available across Ontario, Alberta, New Brunswick, Prince Edward Island and Newfoundland.
"This represents an important milestone - both for Xplore and for people in rural communities across Canada," said Geoff Lowe, President and Chief Financial Officer of Xplore Inc. "We're excited to be partnering with CIB to help bring fast, reliable fibre Internet service to underserved communities across the country."
The Canada Infrastructure Bank uses flexible financing solutions to bring private investment to projects aimed at driving economic growth, connecting communities, or building energy, security and competitiveness.
About Xplore Inc.
Founded in Woodstock, New Brunswick, Xplore Inc. is Canada's fibre, 5G and satellite broadband company for rural living. Xplore is committed to the relentless pursuit of an improved broadband experience for all Canadians. Xplore is building world-class fibre and 5G wireless networks to enable innovative broadband services for better every day rural living, for today and future generations.
SOURCE Xplore Inc.
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