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LONGUEUIL, QC, Feb. 18 /CNW Telbec/ - D-BOX Technologies Inc. (DBO.A : TSXV), a leader in innovative motion technology for the entertainment industry, is pleased to announce that it has completed a private placement by issuing an aggregate of 20,692,886 units to seven institutional investors at a price of $0.35 per unit, for gross proceeds to D-BOX of $7,242,510.
Each unit is comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of D-BOX at a price of $0.55 until February 17, 2011. The private placement was conducted on a "non-brokered" basis.
"We are very pleased that the Caisse de dépôt et placement du Québec, a major institutional investor, participated in our private placement", said Claude Mc Master, President and Chief Executive Officer of D-BOX. "Sipar Inc. and other important Canadian investment funds also participated. Their decision to invest, or increase their existing equity position in D-BOX, is a sign of their confidence in our growth strategy. At the same time, the proceeds from the private placement will help D-BOX to carry out its business plan," Mr. Mc Master continued.
D-BOX will use the proceeds from the private placement to accelerate the deployment of its motion systems for commercial theatre application and for working capital and general corporate purposes.
As a result of the private placement, there are 124,107,568 common shares of D-BOX issued and outstanding. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period expiring on June 18, 2010.
D-BOX Technologies designs and manufactures leading edge high-technology motion systems mainly suited to the needs of the entertainment industry. With its unique, patented technology, D-BOX MOTION CODE(TM) uses motion codes specifically programmed for each film, TV program or video game, which are sent to a motion generating system integrated within either a platform or a seat.
The resulting motion is perfectly synchronised with all onscreen action, creating an unmatched realistic, immersive experience. To date, D-BOX MOTION CODE(TM) is available on more than 900 titles. Accordingly, many prominent Hollywood studios have started embedding D-BOX MOTION CODE(TM) on selected high definition Blu-ray(TM) releases. By reaching agreements with the leaders of both the motion picture and gaming industries, D-BOX's award-winning motion technology is gradually proving itself as a new global standard in the entertainment world.
D-BOX is a publicly traded company listed on the TSX Venture Exchange under the symbol DBO.A. For further information please see www.d-box.com. D-BOX(R) is a registered trademark and D-BOX MOTION CODE(TM) is a trademark of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
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.
SOURCE D-BOX Technologies Inc.
For further information: For further information: Media and general inquiries: Claude Mc Master, President and Chief Executive Officer, D-BOX Technologies Inc., (450) 442-3003 ext. 230, email@example.com; Luc Audet, Chief Financial Officer, D-BOX Technologies Inc., (450) 442-3003 ext 296, firstname.lastname@example.org; Investor relations: Marc Jasmin CMA, Partner Jasmin-Dumais Financial Communications, (514 231-2360, email@example.com