Virtutone Networks Inc.
TSX VENTURE : VFX

July 17, 2009 17:42 ET

Virtutone Networks Inc. Announces Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwire - July 17, 2009) -

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Virtutone Networks Inc. ("Virtutone" or the "Corporation") (TSX VENTURE:VFX) is pleased to announce that it will be conducting a non-brokered private placement of up to 1,000,000 common shares at a price of $0.34 per share for aggregate proceeds of up to $340,000 (collectively the "Private Placement"). The Private Placement is expected to close on or around August 10, 2009.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the number of common shares to be sold, the price per share and the expected closing date. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, risks that the Private Placement will not be completed or if completed not on the same terms as disclosed above. The statements in this news release are made as of the date of this release. We undertake no obligation to update such forward-looking information except as required by applicable securities laws.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Virtutone Networks Inc.
    Jason Allen
    President and Chief Executive Officer
    (780) 235-4100