LAS VEGAS FROM HOME.COM ENTERTAINMENT INC - Closes Private Placement [426]
Bedo H. Kalpakian, Chairman, on behalf of the Board of Las Vegas From Home.com Entertainment Inc., reports:
The Company is pleased to announce that it has closed the brokered private placement portion which was originally announced as a debenture transaction on April 18, 2001. The Company has issued 2,000,000 Units at $0.15 per Unit to Thomson Kernaghan Co. Ltd., for total proceeds of $300,000. 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 this brokered private placement, the Company has paid Thomson Kernaghan a cash commission of $18,000 and has issued Agent's Warrants to purchase up to 200,000 common shares in the capital of the Company for a period of two years at a price of $0.25 per common share. A total of 2,000,000 common shares in the capital of the Company have been issued and these shares are subject to a hold period expiring October 22, 2001. The proceeds from this private placement will be applied towards general working capital. TEL: (604) 681-0204 Las Vegas From Home.com Entertainment Inc. FAX: (604) 681-9428 INET : www.lasvegasfromhome.com EMAIL: email@lasvegasfromhome.com
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