Arius3D Corp.

Arius3D Corp.

March 22, 2010 10:02 ET

Arius3D Corp. Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwire - March 22, 2010) - Arius3D Corp. ("Arius3D" or the "Company") (TSX VENTURE:LZR)announced that it has closed its previously announced brokered private placement by BMO Nesbitt Burns Inc. (the "Agent") of convertible debentures in an aggregate principal amount of $350,000 ("Private Placement") on March 19, 2010.

The convertible debentures expire on December 31, 2014 and will be convertible into common shares of Arius3D at a conversion price of $0.18. For each $1,000 principal amount of convertible debentures converted by the holder thereof, the holder shall receive 5,556 common shares of Arius3D. The Company issued, for each common share that would be issued on the conversion of the aforementioned convertible debentures, one detachable warrant to purchase one common share of Arius3D with an exercise price of $0.18 per share and expiring on December 31, 2014. A general security interest has been granted by Arius3D in favour of the holders of the convertible debentures. In addition to their 7% cash commission, the Agent was issued an aggregate of 136,122 warrants, each exercisable for one common share of Arius3D expiring on December 31, 2014 at an exercise price of $0.18 per share.

Proceeds from the Private Placement will be used to further the Company's business objectives, including creating a significant number of 3D colour images for distribution by a commercial Arius3D Image Library, establishing an international network of service bureaus offering customers 3d colour imaging services and for other general working capital purposes.

About Arius3D Corp.

Classified as an "Information Technology" company, Arius3D Corp. is publicly traded and listed on the Toronto TSX Venture Exchange (TSX VENTURE:LZR) with its head office in Mississauga, Ontario. 

The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this release.

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