Las Vegas From Home.com Entertainment Inc. Arranges Financing
2010年5月18日 - 9:30PM
Marketwired
Las Vegas From Home.com Entertainment Inc. (the "Company") (TSX
VENTURE: LVH)(PINK SHEETS: LVFHF)(BERLIN: LVH)(FRANKFURT: LVH) has
arranged a non-brokered private placement financing whereby the
Subscribers will purchase up to 60,000,000 Units of the securities
of the Company at the price of $0.05 per Unit for total proceeds to
the Company of up to Cdn $3,000,000. Each Unit shall consist of one
common share in the capital of the Company and one share purchase
warrant to purchase an additional common share in the capital of
the Company, exercisable at the price of $0.10 per common share if
exercised in the first year from Closing and at the price of $0.25
per common share if exercised in the second year from Closing.
There will be a finder's fee payable in respect to this
transaction. This transaction is subject to the approval of the TSX
Venture Exchange (the "Exchange").
The proceeds of the non-brokered private placement financing
will be used for the continued development and roll-out of certain
new and innovative products in targeted markets with established
strategic operational partners.
Furthermore, the Company's main business initiatives and focus
will be pursuing either government partnered online gaming
opportunities or operating in specific government licensed
jurisdictions that will enable the Company to operate with
strategic industry leaders in a wide range of online games that
include poker, casino, bingo and sports book.
In addition, the Company has granted an aggregate of 10,500,000
Incentive Stock Options ("Options") to Directors, Officers,
Employees and Consultants of the Company all exercisable at a price
of $0.10 per common share expiring on May 18, 2013. These Options
have been reserved for issuance pursuant to the Company's Amended
2004 Stock Option Plan which has previously received acceptance
from the Exchange and the Company's Shareholders. 25% of the
Options granted shall vest immediately with 25% vesting every six
months thereafter. Any shares issued pursuant to the exercise of
the Options will be subject to a hold period expiring on September
19, 2010.
On behalf of the Board of Las Vegas From Home.com Entertainment
Inc.
Jake H. Kalpakian, President
Statements made in this news release that relate to future
plans, events or performances are forward-looking statements. Any
statement in this release containing words such as "believes",
"plans", "expects" or "intends" and other statements that are not
historical facts are forward-looking, and these statements involve
risks and uncertainties and are based on current expectations.
Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements.
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.
Contacts: Las Vegas From Home.com Entertainment Inc. Jake H.
Kalpakian President (604) 681-0204 ext 6105 (604) 681-9428 (FAX)
info@lvfh.com www.lvfh.com
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