Digital Shelf Space Announces Closing of $2,636,000 First Tranche of Financing
30 Aprile 2014 - 10:55PM
Marketwired
Digital Shelf Space Announces Closing of $2,636,000 First Tranche
of Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 30, 2014) -
Digital Shelf Space Corp. (the "Company" or "DSS")
(TSX-VENTURE:DSS)(PINKSHEETS:DTSRF) is pleased to announce that
further to its new release dated April 23, 2014, the Company has
closed the first tranche of its non-brokered private placement (the
"Offering") and issued 26,360,000 units at a price of $0.10 per
unit for gross proceeds of $2,636,000. Each unit consists of one
common share and one common share purchase warrant. Each whole
purchase warrant entitles the holder to purchase one common share
of the Company at the price of $0.15 per common share on or before
the date occurring 12 months following the closing of the Offering
(the "Offering Warrants").
The Company paid finder's fees totaling $184,870 and issued
1,845,200 non-transferrable share purchase warrants as finder's
fees. The non-transferrable share purchase warrants issued as
finder's fees have the same exercise price and term as the Offering
Warrants.
In accordance with applicable securities legislation, securities
issued pursuant to the Offering are subject to a hold period of
four months plus one day from the date of completion of the
Offering.
The Offering and payment of finders' fees are subject to final
regulatory approval.
Monies raised from this financing will be used toward working
capital and general corporate purposes and transaction and related
expenses.
About Digital Shelf Space Corp.
Digital Shelf Space is an independent creator, producer and
distributor of home entertainment content targeted at the fitness
and sports instruction market. Digital Shelf Space's overall
content partnership strategy is to align itself with world-class,
global brand partners. For more information please visit
www.digitalshelfspace.com and to view the Company's products please
visit www.gsprushfit.com and www.touracademydvds.com.
ON BEHALF OF THE BOARD
Jeffrey Sharpe, President & CEO
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of the Canadian securities laws. Forward-looking
information is generally identifiable by use of the words
"believes," "may," "plans," "will," "anticipates," "intends,"
"budgets", "could", "estimates", "expects", "forecasts", "projects"
and similar expressions, and the negative of such expressions.
Forward-looking information in this news release include statements
about the ongoing intention to complete a private placement
offering and the use of proceeds received from the closing of the
first tranche of the private placement offering.
In connection with the forward-looking information contained
in this news release, Digital Shelf Space has made numerous
assumptions, regarding, among other things, expected investor
interest of the ongoing private placement offering. While Digital
Shelf Space considers these assumptions to be reasonable, these
assumptions are inherently subject to significant uncertainties and
contingencies.
Additionally, there are known and unknown risk factors which
could cause Digital Shelf Space's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk factors
include, among others: Digital Shelf Space may not be able to
complete the closing of any further tranches of the private
placement offering on the terms currently contemplated, or at all;
Digital Shelf Space may not use funds received from the closing of
the first tranche of the private placement as currently
contemplated; reliance on the health and marketability of celebrity
fitness talent in productions owned by Digital Shelf Space; actual
results from the use of celebrity fitness products may differ
substantially from anticipated results; the substantial investment
of capital required to produce and market video and entertainment
productions, limitations imposed by our financing abilities,
unpredictability of the commercial success of our programming,
difficulties in integrating technological changes and other trends
affecting the entertainment industry.
A more complete discussion of the risks and uncertainties
facing Digital Shelf Space is disclosed in Digital Shelf Space's
continuous disclosure filings with Canadian securities regulatory
authorities at www.sedar.com. All forward-looking information
herein is qualified in its entirety by this cautionary statement,
and Digital Shelf Space disclaims any obligation to revise or
update any such forward-looking information or to publicly announce
the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or
developments, except as required by law.
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 the release.
Digital Shelf Space Corp.Jeff SharpePresident &
CEO604.736-7977
ext.111604.736-7944jeff@digitalshelfspace.comwww.digitalshelfspace.com
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