TORONTO, April 18 /CNW/ - Eiger Technology, Inc. (TSX: AXA, OTCBB: ETIFF)
("Eiger") is pleased to announce that it is conducting a private placement of
units (the "Private Placement") in its securities at a price of $0.15 per
unit. Each unit (the "Units") is comprised of one share and three share
purchase warrants (the "Warrants"). The Warrants are each convertible to one
common share upon exercise.
Warrants for each Unit are exercisable as follows:
i) one warrant for a period of one year after closing at an exercise
price of $0.25 per warrant,
ii) one warrant for a period of one year subsequent to the first year
after closing at an exercise price of $0.50 per warrant,
iii) one warrant for a period of one year subsequent to the second year
after closing at an exercise price of $0.75 per warrant.
The Private Placement has a maximum subscription of 3,000,000 Units. If
the Private Placement is fully subscribed, the Company will receive proceeds
of $450,000. If the Warrants are exercised, Eiger will receive an additional
$1,500,000. The Private Placement is a non-brokered private placement and is
subject to regulatory approval.
Eiger Technology, Inc., headquartered in Toronto, Ontario is a publicly
traded company listed on the Toronto Stock Exchange. For more information
please call (416) 216-8659 or refer to www.sedar.com.
The management of the company, who take full responsibility for its
content, prepared this press release. The Toronto Stock Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release. This press release contains forward-looking statements relating
to future events and results that are based on Eiger's current expectations.
These statements involve risks and uncertainties including, without
limitation, Eiger's ability to successfully develop and market its products,
consumer acceptance of such products, competitive pressures relating to price
reductions, new product introductions by third parties, technological
innovations, and overall market conditions. Consequently, actual events and
results in future periods may differ materially from those currently expected.
For further information:
For further information: Jason Moretto, Chief Financial Officer, Eiger
Technology, Inc., Telephone: (416) 216-8659, Ext. 302,