DSNY ~
biz.yahoo.com
Friday February 25, 9:01 am Eastern Time
Company Press Release
Destiny Media Technologies Closes Private Placement
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 25, 2000-- Destiny Media
Technologies, Ltd (Pink Sheets:DSNY) announced today the closing of a private placement of
$1,000,000 (US) pursuant to which the company has issued 1,000,000 units ($1.00 per unit).
Each unit consists of one share and one warrant exercisable to purchase one share of the company's
common stock at an exercise price of $3.00 for a period of six months from closing.
The proceeds of this placement will be used to fund further product development and an initial marketing
launch of the company's new proprietary -- ``MPE' -- digital music distribution format.
Investor information regarding Destiny Media Technologies can be found at www.destiny-software.com
Destiny has been developing leading edge software since 1991. Destiny develops accessible and
cost-effective enabling technologies for online media streaming and the digital distribution of audio files.
Their products include Clipstream (TM) which embeds streaming audio into a web page, the Destiny
Media Player (TM) -- the world's smallest and most versatile digital music player and Internet radio
receiver; the RadioDestiny Broadcaster (TM) software for personal and commercial Internet radio
broadcasting; and the Radio Destiny Broadcast Network (TM), a network of eclectic personal radio
webcasters. Destiny software applications are designed to be affordable and simple enough for anyone to
use.
``Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995: This release
contains forward looking statements that are subject to risks and uncertainties, including, but not limited
to, the impact of competitive products and pricing, product demand and market acceptance, new
product development, reliance on key strategic alliances, availability of raw materials, the regulatory
environment, fluctuations in operating results and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission. |
