GC-Global Capital Corp. Announces That Its Client Company, Iseemedia Inc. Has Completed a $3,000,000 Private Placement Financing
October 07 2010 - 8:30AM
Marketwired
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE: GDE.A) is
pleased to announce that its client company, Iseemedia Inc.
("Iseemedia") (TSX VENTURE: IEE) announced the completion of a
private placement offering for gross proceeds of $3,000,000. This
offering was conducted at a price of $0.09 per Subscription
Receipt. The Subscription Receipts have all been exercised into
33,333,334 common shares and 33,333,334 common share purchase
warrants of Iseemedia, with each warrant exercisable into one
common share at a price of $0.12 for a period of 36 months
following the date of issuance.
Subsequent to the closing of the private placement, Global
Capital's bridge loan to Iseemedia has been fully repaid.
About GC-Global Capital Corp.
Global Capital is a merchant bank which provides bridge loan
services (asset back/collateralized financing), to companies across
many industries such as oil & gas, mining, real estate,
manufacturing, retail, financial services, technology and
biotechnology. In 2009, the Company launched the GC-Global Capital
Lending Partners Limited Partnership (the "Fund") which provides
secure bridge loans to micro-cap and small-cap companies. The
Fund's investment objective is to provide investors with a high
yield and the preservation of capital. As the General Partner of
the Fund, Global Capital participates alongside the fund in these
bridge loan transactions and receives a management fee and
performance bonus for its services.
About iseemedia
iseemedia Inc. is a mobile software company focused on the
commercialization of a Service Delivery Platform (iseemail™) for
delivering push Email services to the mass market and an advanced
Content Delivery Platform (iseedocs™) for rich media adaptation and
extremely cost-efficient network delivery to mobile devices.
The Company maintains a broad portfolio of issued and pending
patents that cover content authoring, streaming and interactive
viewing on mobile devices. iseemedia was founded in March 2002 and
has been traded on the TSX Venture Exchange in Toronto since June
2005.
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: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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