/NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR
DISSEMINATION TO U.S. NEWSWIRE SERVICES/
CALGARY, May 8 /CNW/ - Multiplied Media Corporation (TSX-V: MMC) (the
"Company") announces that it has extended its previously announced
non-brokered private placement to close on Tuesday, May 12, 2009. The Company
also announces an increase to the offering of an additional 3,000,000 Units.
The Company will now issue a total of up to 13,000,000 Units for gross
proceeds of $650,000 (the "Offering"). Each Unit is comprised of one common
share ("Common Share") at a subscription price of $0.05 per Common Share and
one half warrant. Each whole warrant will be exercisable for one Common Share
at a price of $0.10 per Common Share, with the warrants expiring two years
from the date of issuance.
The Company will use proceeds of the Offering to implement the business
plan of the Company and for general working capital purposes.
All of the Common Shares issued pursuant to the Offering will be subject
to a four-month hold period from the date of distribution.
About Multiplied Media Corporation
Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the local search service available over
BlackBerry smartphones. Through agreements with Yellow Pages Group in Canada,
Idearc Media (Superpages.com) in the United States and t-info and Infobel in
Europe, Poynt simplifies finding and connecting with businesses, retailers and
events wherever and whenever it is most convenient for the consumer.
Headquartered in Calgary, AB, Canada, Multiplied Media trades on the TSX
Venture Exchange under the symbol MMC.
Forward Looking Statements
Certain statements in this release, other than statements of historical
fact, may include forward-looking information that involves various risks and
uncertainties. There can be no assurance that such forward-looking statements
will prove to be accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change, other than as required pursuant to applicable securities
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.
For further information:
For further information: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 313-3719, firstname.lastname@example.org