TORONTO, July 26, 2012 /CNW/ - Telehop Communications Inc. ("Telehop") (TSX-V: HOP) announces today the completion of a non-brokered private placement for
the gross proceeds of CDN $750,000 through the issuance of units (each,
a "Unit" and collectively, the "Units") at a price of $0.10 per Unit, where each Unit consists of one common
share and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one common share over a
two-year period (subject to acceleration in the event that the closing
price of the company's common shares on the TSX Venture Exchange, for a
period of 10 consecutive trading days, exceeds $0.25 per common share)
at a price of $0.15 per common share.
All securities issued in connection with the offering will be subject to
a four-month hold period in accordance with applicable Canadian
securities laws. The offering is subject to the approval of the TSX
Venture Exchange and required regulatory approvals.
Telehop Communications Inc. (TSX-V: HOP), was founded in 1993 and is
headquartered in Toronto, Ontario, and has grown into one of the
largest alternative telecommunications providers to both residential
and business customers.
Telehop is an Equal Access Long Distance Provider, allowing it to offer
its customers full service long distance calling globally at
significantly lower rates. The Canadian Radio-television and
Telecommunications Commission ("CRTC") has licensed Telehop as a Class
"A" telecommunications carrier.
Neither the 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 news
SOURCE: Telehop Communications Inc.
For further information:
Mr. Rajiv Jagota, President and CEO: Tel: (416) 494 4490; email firstname.lastname@example.org