SilverBirch to settle debt via share issuance



    TORONTO, Oct. 28 /CNW/ - Aberdeen Gould Capital Markets Ltd., advisor to
SilverBirch Inc. (TSXV:SVB) has agreed to take settlement of $45,000 of its
fees with SilverBirch shares and warrants ("units") under the same terms as
the recently closed Private Placement, administered by them, which closed on
October 16, 2008.
    The transaction is subject to exchange approval, and provides for the
issue of 562,500 units. As disclosed in the news release dated October 17,
2008, each unit consists of one Common Share priced at $0.08, and one half
(1/2) Common Share purchase warrant of Silverbirch Inc. Each whole Warrant
entitles the holder to acquire one additional Common Share at a price of $0.18
per share until October 27, 2010. The Common Shares, Warrants and Common
Shares issuable upon exercise of the Warrants will be subject to a four month
hold period expiring February 28, 2009.

    About SilverBirch Inc.

    Toronto-based SilverBirch Inc. is a leading digital media company
operating in the fastest growing sectors of the video game and mobile markets.
The company's video game operations include SilverBirch Studios, a mobile and
handheld video game developer, Lighthouse Interactive, a publisher of
interactive entertainment based in the Netherlands, and a co-venture with
G4Box Inc. to operate licensed English language online multiplayer games. In
its mobile division it provides mobile marketing services through Jambo Mobile
Solutions and mobile content by way of an investment in CrossRoad Mobile. For
more information see www.silverbirchinc.com.

    As noted above, completion of the transaction is subject to but not
limited to, acceptance by the TSX Venture Exchange. The transaction cannot
close until the required approvals have been obtained.

    
    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this news release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of the content of this news
    release.
    

    %SEDAR: 00020946E




For further information:

For further information: Derek van der Plaat, Chief Executive Officer,
SilverBirch Inc., Tel: (416) 621-6711 Ext 34, Email: derek@silverbirchinc.com;
Paul Haber, SVP & Chief Financial Officer, SilverBirch Inc., Tel: (416)
621-6711 Ext 35, phaber@silverbirchinc.com

Organization Profile

SILVERBIRCH INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890