LONGUEUIL, QC, Nov. 9 /CNW/ - D-Box Technologies Inc. (TSX-V: DBO.A), a
leading provider of motion technology for immersive home entertainment,
announces that SIPAR Inc. has converted two 14% debentures issued in October
2005 into an aggregate of 1,250,000 common shares and 650,000 warrants and
that Claret Asset Management Corporation has also converted a 12% debenture
issued in November 2003 into an aggregate of 1,300,800 common shares and
warrants pursuant to the conversion feature of the foregoing debentures.
"We're very happy with our institutional investors' decision to increase
their equity position in D-Box as it's a sign of their confidence in our
growth strategy and at the same time, improves our balance sheet," said Claude
Mc Master, President and Chief Executive Officer of D-Box Technologies.
SIPAR Inc. converted two 14% convertible debentures issued in October
2005, in an aggregate principal amount of $350,000, into a total of 1,250,000
common shares and 650,000 warrants at a conversion price of $0.28 per unit.
Each warrant entitles its holder to acquire one common share of D-Box at a
price of $0.35 per share until September 30, 2008. D-Box also paid $3,490 to
SIPAR, representing accrued and unpaid interest on the principal amount from
the first day of October to the conversion date.
Claret Asset Management Corporation also converted a 12% convertible
debenture issued November 4, 2003, in an aggregate principal amount of
$400,000, into 1,300,800 common shares and warrants, at a conversion price of
$0.3075 per unit. Each warrant entitles its holder to acquire one common share
of D-Box at a price of $0.3075 per share until November 2, 2008. D-Box also
paid $11,441 to Claret Asset Management Corporation, representing accrued and
unpaid interest on the principal amount from the last day of July 2007 to the
D-Box designs, manufactures and markets a motion generation system at the
cutting edge of technology, targeted primarily at the entertainment industry
and, more particularly, the home theatre, movie theatre and video game
sectors. The motion generation system, consisting of patented technologies, is
based on the creation of motion codes (the D-BOX MOTION CODE(TM)), permitting
the addition of the dimension of movement to those of sound and image. D-Box
offers a full sensory experience, thanks to the motion generation technology
which responds to the D-Box motion codes, which are synchronized with the
on-screen action. The result of the activation of D-Box's motion generation
system is synchronization between movements felt by the viewer in his
armchair, and action on the screen showing a film or video game. D-Box markets
its products primarily in North America, as well as in more than 15 countries
around the world. Its technology is recognized by many participants in the
D-BOX(R) and D-BOX MOTION CODE(TM) are registered trademarks.
Certain statements included herein, including those that express
management's expectations or estimates of our future performance, constitute
"forward-looking statements" within the meaning of applicable securities laws.
Forward-looking statements are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by management at this time,
are inherently subject to significant business, economic and competitive
uncertainties and contingencies. We caution that such forward-looking
statements involve known and unknown risks, uncertainties and other risks that
may cause our actual financial results, performance, or achievements to be
materially different from our estimated future results, performance or
achievements expressed or implied by those forward-looking statements.
Numerous factors could cause actual results to differ materially from those in
the forward-looking statements, including without limitation, our ability to
achieve increased market acceptance for our product offerings and penetrate
new markets; the existence of undetected errors or similar problems in our
products; our ability to manage our growth; our ability to compete
successfully; potential liabilities; maintaining our intellectual property
rights and litigation involving intellectual property rights; our dependence
on the expertise of our key personnel; and our access to sufficient capital to
fund our future requirements. This list is not exhaustive of the factors that
may affect any of our forward-looking statements. Investors are cautioned not
to put undue reliance on forward-looking statements. All subsequent written
and oral forward-looking statements attributable to D-BOX or persons acting on
our behalf are expressly qualified in their entirety by this notice. We
disclaim any intent or obligation to update publicly these forward-looking
statements, whether as a result of new information, future events or
otherwise. Risks and uncertainties about our business are more fully discussed
in our Annual Report.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
For further information:
For further information: Normand Chartrand, Chief Financial Officer,
D-BOX Technologies Inc., (450) 442-3003, ext. 258, firstname.lastname@example.org; Eric
Bouchard, The Equicom Group Inc., (514) 844-6054, email@example.com