Brighter Minds Media, Inc.
TSX VENTURE : BRI

Brighter Minds Media, Inc.

May 02, 2008 16:50 ET

Brighter Minds Media, Inc. Announces Closing of Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - May 2, 2008) - Brighter Minds Media, Inc. ("Brighter Minds" or the "Company") (TSX VENTURE:BRI) is pleased to announce that it has closed a brokered private placement of 2,841,666 common shares for aggregate gross proceeds of $341,000 (the "Offering") which was previously announced in a press release dated April 18, 2008. All common shares were issued at a price of CDN$0.12 per common share.

The Offering was brokered by Wingate Investment Management Ltd. who received a cash commission equal to 7% of the gross proceeds arising from the Offering and broker warrants equal to 8% of the number of common shares sold under the Offering.

All securities issued pursuant to the Offering will be subject to a four month restricted resale period expiring August 31, 2008.

The proceeds of the Offering will be used to continue the development of new online games and products, working capital, direct sales channels, marketing, hiring of professional staff, capital expenditures and general corporate purposes.

About Brighter Minds Media

Brighter Minds is a publisher of online and multimedia materials for the whole family with a focus on creating a wholesome online environment for children and the family. Brighter Minds is also proud to offer a fun and educational line of retail products including software, DVD games and books. Brighter Minds' products are available online and at major retailers across the United States and Canada. Brighter Minds Media, Inc. is publicly traded on the TSX Venture Exchange (TSX VENTURE:BRI) and is a Hargan Ventures (www.harganvc.com) investee company. More information about Brighter Minds can be found at www.brightermindsmedia.com.

Forward-looking Statements

This news release contains certain information and statements, including those that express management's expectations of future developments or future performance, which may not be based on historical fact and constitute "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking statements include, but are not limited to, statements regarding the Company's strategies, future operations and expected growth and its ability to fund its operations in the future. By their nature forward-looking statements are subject to known and unknown risks, uncertainties, and other factors which may cause actual results or developments to be materially different from any future results, events or developments, expressed or implied, by such forward-looking statements. Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without limitation, the Company's ability to compete directly against North American and international companies in the market segments in which it operates; seasonal variations in the Company's revenues; its ability to expand its product lines; its ability to maintain strategic relationships with third-party licensees, licensors and distributors; its dependence on key customers and contracts; its ability to protect its intellectual property; and the time and costs of defending potential intellectual property claims. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Investors are cautioned not to put undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise the forward-statements contained herein as a result of new information, future events or otherwise, which statements are expressly qualified by this notice.

Certain of the assumptions made by Brighter Minds in preparing forward-looking information and management's expectations include: maintenance of its existing stable of licenses and future retention of the right to license such properties, its ability to market its products successfully to anticipated customers, the impact of increasing competition, the retention of its key personnel, continued consumer demand for its products, its ability to operate in compliance with all applicable laws and regulations, its ability to obtain financing on acceptable terms and that there will be no significant changes in the regulation of its business.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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