USVO - USA Video Interactive Message Board

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Microcap & Penny Stocks : USVO - USA Video Interactive

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To: harddog who started this subject	6/4/2001 5:07:12 PM
From: Halbert	of 648

USA Video Interactive Corp - News Release USA Video arranges financing USA Video Interactive Corp US Shares issued 73,466,089 2001-06-01 close $0.91 Monday Jun 4 2001 News Release Mr. Tony Castango reports USA Video Interactive has arranged a private placement of up to a total of 2.5 million units in the capital stock of USA Video to various investors at a price of 50 U.S. cents (77 Canadian cents) per unit. Each unit consists of one common share and one non-transferable share purchase warrant. Each one warrant entitles the holder thereof to purchase an additional one common share at a price of 50 U.S. cents (77 Canadian cents) per share, exercisable for a period of two years from the date of payment for the units. The 2.5 million common shares to be issued as part of the units and the 2.5 million common shares that may be issued upon conversion of the warrants are subject to a 12-month hold period from the date of payment for the units. The issuance of the private placement units is subject to regulatory acceptance. The private placement proceeds will be used for the continuing marketing of USA Video's Video-on-Demand technology and for general working capital.

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