TORONTO, June 23 /CNW/ - Eiger Technology, Inc. (CNQ: GAME, OTCBB: ETIFF)
("Eiger" or the "Company") is pleased to announce that it is conducting a
private placement of common shares (the "Private Placement"), which if fully
subscribed, will generate proceeds of $1,000,000. The Company intends to close
the Private Placement subsequent to its planned share consolidation of one
post-consolidation common share for every ten pre-consolidation common shares
as indicated in a press release dated June 20, 2008.
The Private Placement is being offered with a maximum subscription of
4,000,000 common shares at a price of $0.25 per share, on a post-consolidation
basis. The Company anticipates its name to have been changed to "Gamecorp
Ltd." by the Private Placement closing date. The Private Placement is a
non-brokered private placement and is subject to regulatory approval.
Eiger Technology, Inc., headquartered in Toronto, Ontario, is a public
company that trades under the symbol GAME on the Canadian Trading and
Quotation System Inc. and under the symbol ETIFF on the Over the Counter
Bulletin Board. For more information please call (416) 477-5656 or refer to
The management of the company, who take full responsibility for its
content, prepared this press release. The Canadian Trading and Quotation
System Inc. has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. This press release contains
forward-looking statements relating to future events and results that are
based on Eiger's current expectations. These statements involve risks and
uncertainties including, without limitation, Eiger's ability to successfully
develop and market its products, consumer acceptance of such products,
competitive pressures relating to price reductions, new product introductions
by third parties, technological innovations, and overall market conditions.
Consequently, actual events and results in future periods may differ
materially from those currently expected.
For further information:
For further information: John G. Simmonds, Eiger Technology, Inc.,
Telephone: (416) 477-5656, Ext. 301