/NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR
DISSEMINATION TO U.S. NEWSWIRE SERVICES/
CALGARY, July 2 /CNW/ - Multiplied Media Corporation, a Calgary-based
provider of local search services, is pleased to announce the closing of its
previously announced non-brokered private placement (the "Offering"). Pursuant
to the Offering, Multiplied Media issued 9,480,000 common shares at $0.05 per
common share for gross proceeds of $474,000. All of the common shares issued
pursuant to the Offering are subject to a four-month hold period from the date
of closing, expiring on October 31, 2008.
The net proceeds of the offering are to be used to implement the business
plan of the Company and for general working capital purposes.
About Multiplied Media Corporation
Multiplied Media Corp. (www.multiplied.com) has developed Poynt
(www.mypoynt.com), the first multimedia local search service available over
Microsoft's Windows Live Messenger and AOL's AIM instant messaging networks.
Through agreements with Yellow Pages Group in Canada, Idearc Media
(Superpages.com) in the United States and t-info and Infobel in Europe, Poynt
simplifies finding and connecting with businesses, retailers and events
wherever and whenever it's most convenient for the consumer. Headquartered in
Calgary, AB, Canada, Multiplied Media trades on the TSX Venture Exchange under
the symbol MMC.
Forward Looking Statements
Certain statements in this release, other than statements of historical
fact, may include forward-looking information that involves various risks and
uncertainties. There can be no assurance that such forward-looking statements
will prove to be accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change, other than as required pursuant to applicable securities
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Andrew Osis, CFO & Director, Multiplied Media
Corporation, (403) 313-3719, firstname.lastname@example.org; MEDIA CONTACTS:
Margaret Glover-Campbell, Director, Communications, Multiplied Media
Corporation, (403) 313-3719, email@example.com