In a multi-input multi-output (MIMO) full-duplex network, where an in-band full-duplex infrastruc- ture node communicates with two half-duplex mobiles supporting simultaneous up- and downlink flows, the inter-mobile interference between the up- and downlink mobiles limits the system performance. We study the impact of leveraging an out-of-band side-channel between mobiles in such network under different channel models. For time-invariant channels, we aim to characterize the generalized degrees- of-freedom (GDoF) of the side-channel assisted MIMO full-duplex network. For slow-fading channels, we focus on the diversity-multiplexing tradeoff (DMT) of the system with various assumptions as to the availability of channel state information at the transmitter (CSIT). The key to the optimal performance is a vector bin-and-cancel strategy leveraging Han-Kobayashi message splitting, which is shown to achieve the system capacity region to within a constant bit. We quantify how the side-channel improve the GDoF and DMT compared to a system without the extra orthogonal spectrum. The insights gained from our analysis reveal: i) the tradeoff between spatial resources from multiple antennas at different nodes and spectral resources of the side-channel, and ii) the interplay between the channel uncertainty at the transmitter and use of the side-channel.