LAS VEGAS FROM HOME.COM ENTERTAINMENT INC. - Closing of Offering [266]
Further to the Company's Press Release dated March 12, 2001, the Company announces the closing of the Offering that was conducted by way of the Companys short form offering document dated March 26, 2001 through the Canadian Venture Exchange. The Company has issued a total of 1,217,392 Units at a price of $0.13 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (the "Warrants"), each whole Warrant entitling the holder to purchase one common share (the "Warrant Shares") of the Company at a price of $0.14 per Warrant Share for a period of two (2) years. A total of 1,217,392 common shares in the capital of the Company have been issued, of which 230,846 common shares are subject to a hold period expiring August 25, 2001. In connection with the Offering, the Company has paid Global Securities Corporation (the "Agent") a cash commission in the amount of $14,243.49 and the Company has issued 182,609 non-transferable share purchase warrants (the "Agent's Warrants") entitling the holder to purchase up to 182,609 common shares of the Company at a price of $0.14 per common share for a period of two years.
The proceeds of the Offering will be used to pay for the costs of the Offering, to meet payment obligations, and the balance for working capital.
The Company has granted a total of 231,178 directors and employees incentive share purchase options, all at $0.23 per share. The options are subject to a four month hold period and are also subject to regulatory approval. TEL: (604) 681-0204 Las Vegas From Home.com Entertainment Inc.
Bedo H. Kalpakian, Chairman Internet: www.lasvegasfromhome.com |
