LAS VEGAS FROM HOME.COM ENTERTAINMENT INC - Closing of Non-brokered Private Placement [126]
Further to the Company's News Release dated May 16, 2001, the Company announces that it has closed the 1,000,000 Units of the non-brokered private placement at the price of $0.15 per Unit for total proceeds of $150,000, whereby each unit consists of one common share and one non-transferable share purchase Warrant. Each share purchase warrant entitles the holder to purchase one additional common share in the capital of the Company for a period of two years at the price of $0.20 per common share in the first year and at $0.40 per common share in the second year. A total of 1,000,000 common shares in the capital of the Company have been issued and these shares are subject to a hold period expiring October 1, 2001. In respect to this private placement, the Company paid a 10% finder's fee in cash from the proceeds received to an arm's length third party. The proceeds from this private placement will be applied towards general working capital.
In addition, the Company has closed the first tranche of the non-brokered private placement portion which was originally announced as a debenture transaction on April 18, 2001. The debenture transaction has been replaced entirely by a brokered and non-brokered private placement. The Company has issued 920,000 Units at $0.15 per Unit to four investors, for total proceeds of $138,000. Each unit consists of one common share and one non-transferable share purchase Warrant. Each share purchase warrant entitles the holder to purchase one additional common share in the capital of the Company for a period of two years at the price of $0.18 per common share in the first year and at $0.40 per common share in the second year. In respect to the closing of this first tranche of the non-brokered private placement, the Company has issued, as a finder's fee, 66,667 common shares in the capital of the Company at $0.15 per common share to an arm's length third party. A total of 987,667 common shares in the capital of the Company have been issued and these shares are subject to a hold period expiring October 4, 2001. The proceeds from this private placement will be applied towards general working capital.
FOR MORE INFORMATION ON THE COMPANY, PLEASE CONTACT US AT TELEPHONE NUMBER (604) 681-0204, OR VISIT OUR WEBSITE AT WWW.LASVEGASFROMHOME.COM.
On behalf of the Board of
Las Vegas From Home.com Entertainment Inc.
Bedo H. Kalpakian, Chairman TEL: (604) 681-0204 Las Vegas From Home.com Entertainment Inc. FAX: (604) 681-9428 TOLL FREE: 1 (888) 613-7333 (US) EMAIL: email@lasvegasfromhome.com INET: www.lasvegasfromhome.com
LAS VEGAS FROM HOME.COM ENTERTAINMENT INC - Closing of Non-brokered Private Placement [126]
Further to the Company's News Release dated May 16, 2001, the Company announces that it has closed the 1,000,000 Units of the non-brokered private placement at the price of $0.15 per Unit for total proceeds of $150,000, whereby each unit consists of one common share and one non-transferable share purchase Warrant. Each share purchase warrant entitles the holder to purchase one additional common share in the capital of the Company for a period of two years at the price of $0.20 per common share in the first year and at $0.40 per common share in the second year. A total of 1,000,000 common shares in the capital of the Company have been issued and these shares are subject to a hold period expiring October 1, 2001. In respect to this private placement, the Company paid a 10% finder's fee in cash from the proceeds received to an arm's length third party. The proceeds from this private placement will be applied towards general working capital.
In addition, the Company has closed the first tranche of the non-brokered private placement portion which was originally announced as a debenture transaction on April 18, 2001. The debenture transaction has been replaced entirely by a brokered and non-brokered private placement. The Company has issued 920,000 Units at $0.15 per Unit to four investors, for total proceeds of $138,000. Each unit consists of one common share and one non-transferable share purchase Warrant. Each share purchase warrant entitles the holder to purchase one additional common share in the capital of the Company for a period of two years at the price of $0.18 per common share in the first year and at $0.40 per common share in the second year. In respect to the closing of this first tranche of the non-brokered private placement, the Company has issued, as a finder's fee, 66,667 common shares in the capital of the Company at $0.15 per common share to an arm's length third party. A total of 987,667 common shares in the capital of the Company have been issued and these shares are subject to a hold period expiring October 4, 2001. The proceeds from this private placement will be applied towards general working capital.
FOR MORE INFORMATION ON THE COMPANY, PLEASE CONTACT US AT TELEPHONE NUMBER (604) 681-0204, OR VISIT OUR WEBSITE AT WWW.LASVEGASFROMHOME.COM.
On behalf of the Board of
Las Vegas From Home.com Entertainment Inc.
Bedo H. Kalpakian, Chairman TEL: (604) 681-0204 Las Vegas From Home.com Entertainment Inc. FAX: (604) 681-9428 TOLL FREE: 1 (888) 613-7333 (US) EMAIL: email@lasvegasfromhome.com INET: www.lasvegasfromhome.com |
