VANCOUVER, May 29, 2012 /CNW/ - Intelimax Media Inc. (the "Company") (CNSX:IMD) is pleased to announce that further to its news release of March 28, 2012, the Company has now completed its private placement and has issued 1,808,999 units at a price of $0.30/unit for gross proceeds of $542,699.70. The Company paid $51,370 cash compensation and issued 171,233 two year warrants with an exercise price of $0.60/share to eligible finders in relation to this financing.
All securities issued pursuant to this private placement are subject to a four month hold period expiring on September 30, 2012.
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com) is an Internet media services company focusing on fantasy sports, online games, social media and web content. Using its' proprietary Social Media Platform, Intelimax currently offers daily fantasy sports on its web property DraftTeam.com.
For and on behalf of the board of Intelimax Media Inc.,
Michael Young, President & Director
Forward Looking Statements:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Intelimax or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the ability of the Company to complete the proposed financing in whole or in part, the level of business and consumer spending, the amount of sales of Intelimax's products, the competitive environment within the industry, the ability of Intelimax to continue to expand its operations, the level of costs incurred in connection with Intelimax's expansion efforts, economic conditions in the industry and the financial strength of Intelimax's customers and suppliers. Intelimax does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
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for the adequacy or accuracy of this release.
For further information:
Phone: 1-866-742-1759 Email: IR@Intelimax.com