MONTREAL, April 1 /CNW Telbec/ - Eloda Corporation ("Eloda" or the
"Corporation") (TSX-V: ELA) today announced the closing of a non-brokered
private placement of 12,300,000 units for gross proceeds of $615,000. Each
unit is comprised of one common share and one common share purchase warrant
entitling the holder thereof to purchase one additional common share of the
Corporation, at a price of $0.05 per common share, for a period of 12 months
following the closing date and thereafter at the price of $0.10 per common
share for an additional period of 48 months.
The securities issued in connection with the private placement are
subject to a four month and one day hold period which will expire on August 1,
2009. The private placement is subject to the final approval of the TSX
The proceeds from the private placement will be used by Eloda to fund the
on-going growth of its business and for working capital purposes.
Eloda also wishes to announce that it actually closed, on October 23,
2008, a private placement of a total of 10,084,822 common shares, at a price
of $0.05 per common share, for gross proceeds of $504,241.11 instead of a
private placement of $654,241.10 as previously announced.
About Eloda Corporation
Eloda Corporation (TSX-V: ELA) is a third party providing a suite of
innovative, effective and user-friendly measurement and validation tools for
the advertising industry. The company is headquartered in Montréal, with an
office in New York City. For more information, visit www.eloda.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Eloda Corporation, Christiane Allaire, Director
of Communications and Marketing, (514) 842-1513, FAX: (514) 842-4588,