Multiplied Media Corporation announces private placement



    
    /NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR
    DISSEMINATION TO U.S. NEWSWIRE SERVICES/
    

    CALGARY, June 4 /CNW/ - Multiplied Media Corporation (the
"Company")(TSX:V MMC), a Calgary-based provider of mobile local search
services, today announced that it has entered into a private placement
financing agreement, on a best efforts basis, with Research Capital
Corporation. Pursuant to the agreement, the Company will issue by way of
private placement up to $7,000,000 of units of the Company to be priced in the
context of the market seven (7) days prior to closing in accordance with the
policies of the TSX Venture Exchange. Each unit will be comprised of one
common share of the Company and one-half of one common share purchase warrant.
Each whole warrant will be exercisable for one common share to be priced prior
to closing. The warrants will expire two years from the date of issuance.
    The fee payable to Research Capital Corporation is seven percent (7.0%)
of the gross proceeds of the Offering. The agents will receive compensation
options entitling the agents to subscribe for up to ten percent (10%) of the
aggregate number of units issued at a price equal to the issue price, for a
period of 24 months following the closing date.
    The Company intends to use proceeds of the offering for development and
integration of UnoMobi's products (the proposed acquisition of which was
disclosed by the Company on June 1, 2009), development and deployment of the
Company's existing product on additional smartphone platforms, releasing the
Company's products into new geographic areas, and for general working capital
purposes.
    The securities issued under the offering will be subject to a four-month
hold period from the date of distribution. The offering is expected to close
on or about June 30, 2009 and is subject to receipt of all necessary
regulatory approvals and satisfaction of all other customary closing
conditions. Further particulars of the proposed financing will be announced in
due course.

    
    About Multiplied Media Corporation
    ----------------------------------
    
    Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the mobile local search service available
over BlackBerry smartphones. Through agreements with directory and vertical
content providers in Canada, the United States and Europe, Poynt simplifies
finding and connecting with businesses, retailers and events wherever and
whenever it is most convenient for the consumer. Headquartered in Calgary, AB,
Canada, Multiplied Media trades on the TSX Venture Exchange under the symbol
MMC.

    
    Forward Looking Statement
    -------------------------
    
    This news release contains forward-looking statements relating to the
proposed private placement financing and other statements that are not
historical facts, including statements regarding the anticipated maximum
proceeds of the offering, pricing of the offering, the use of proceeds of the
offering, projected timing of closing the offering and the receipt of all
necessary regulatory approvals and satisfaction of all other customary closing
conditions in connection with the offering. Such forward-looking statements
are subject to important risks, uncertainties and assumptions. The results or
events predicated in these forward-looking statements may differ materially
from actual results or events. As a result, you are cautioned not to place
undue reliance on these forward-looking statements.
    These forward-looking statements are based on certain key assumptions
regarding, among other things: state of the economy in general and capital
markets in particular, investor interest in the Company's business and future
prospects, the ability of the agents to successfully market the proposed
offering, the timing of obtaining regulatory approvals and satisfying closing
conditions. Material risk factors that could cause actual results to differ
materially from the forward-looking information include, but are not limited
to: the risk that closing of the offering could be delayed if the Company is
not able to obtain the necessary regulatory and stock exchange approvals on
the timelines it has planned; the risk that the offering will not be completed
at all if these approvals are not obtained or some other condition to the
closing is not satisfied; the risk that the intended use of the net proceeds
of the offering by the Company might change if the board of directors of the
Company determines that it would be in the best interests of the Company to
deploy the proceeds for some other purpose; risks that the marketing efforts
will not result in the anticipated proceeds; the deteriorating economic and
market conditions that could lead to reduced spending on information
technology products; competition in our target markets; potential capital
needs; management of future growth and expansion; the development,
implementation and execution of the Company's strategic vision; risk of
third-party claims of infringement; protection of proprietary information;
customer acceptance of the Company's existing and newly introduced products
and fee structures; and the success of the Company's brand development
efforts; risks associated with strategic alliances; reliance on distribution
channels; product concentration; need to develop new and enhanced products;
potential product defects; our ability to hire and retain qualified employees
and key management personnel; and risks associated with changes in domestic
and international market conditions and the entry into and development of new
for the Company's products.
    The forward-looking statements contained in this press release are made
as of the date of this press release. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to
comment on expectations of, or statements made by, third parties in respect of
the proposed private placement financing.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange)
    accepts responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 444-4102, andrew.osis@multiplied.com

Organization Profile

MULTIPLIED MEDIA CORPORATION

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