Market responsive to company's growth strategy and achievements
TORONTO, Oct. 14 /CNW/ - SilverBirch Inc. (TSX-V:SVB) (the "Corporation")
announced today that the Private Placement financing for which it has engaged
Aberdeen Gould Capital Markets Ltd. ("AGM") will exceed the originally
proposed $500,000, and is now expected to close gross proceeds of $530,600 in
units, on the same terms as previously announced on October 6, 2008.
In connection with the finder's fee of 7% cash, plus 8% Compensation
Option to Aberdeen Gould Capital Markets Ltd. ("AGM") as finder, each
Compensation Option will now entitle the holder to purchase one common share
of the Corporation at a price of $0.10 for two years from closing.
The transaction set out herein is subject to approval from the TSX
Venture Exchange. There are no assurances that the private placement will
About SilverBirch Inc.
Toronto-based SilverBirch Inc. is a leading digital media company
operating in the fastest growing sectors of the video game and mobile markets.
The company's video game operations include SilverBirch Studios, a mobile and
handheld video game developer, Lighthouse Interactive, a publisher of
interactive entertainment based in the Netherlands, and a co-venture with
G4Box Inc. to operate licensed English language online multiplayer games. In
its mobile division it provides mobile marketing services through Jambo Mobile
Solutions and mobile content by way of an investment in CrossRoad Mobile. For
more information see www.silverbirchinc.com.
As noted above, completion of the transaction is subject to a number of
conditions, including but not limited to, acceptance by the TSX Venture
Exchange. The transaction cannot close until the required approvals have been
obtained. There can be no assurance that the transaction will be completed as
proposed or at all.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this news release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of the content of this news
Forward-Looking Statements - Certain information set forth in this news
release, including the amount and actual completion of the private placement
contain forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are based upon
management's expectations, assumptions and beliefs, which may prove to be
incorrect. These forward-looking statements are subject to numerous risks and
uncertainties, which may cause actual results to differ materially from
results expressed or implied by such forward-looking statements. These risks
and uncertainties, certain of which are beyond management's control, include
completion of the proposed transaction, the impact of general economic
conditions, industry conditions, and currency fluctuations. There can be no
assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such statements. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. SilverBirch does not undertake to
update any forward-looking statements contained in this document as a result
of new information, future events or otherwise.
For further information:
For further information: Derek van der Plaat, Chief Executive Officer,
SilverBirch Inc., Tel: (416) 621-6711 Ext 34, Email: email@example.com;
Paul Haber, SVP & Chief Financial Officer, SilverBirch Inc., Tel: (416)
621-6711 Ext 35, firstname.lastname@example.org