D-BOX Technologies Inc.

D-BOX Technologies Inc.

January 05, 2011 03:47 ET


/This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States/

LONGUEUIL, QC, Jan. 5 - D-BOX Technologies Inc. ("D-Box") (DBO.A on the TSX Venture Exchange), a leader in innovative motion technology, announced today that it has completed a second closing of its previously-announced bought-deal public offering by issuing 3,846,154 common shares, at a price of $0.65 per share, for gross proceeds to D-Box of approximately $2.5 million. 

The sale of the 3,846,154 common shares represents the second and final tranche of a bought-deal public offering of a total 23,077,000 common shares, for aggregate gross proceeds to D-Box of $15,000,050.

The 3,846,154 common shares were sold to a syndicate of underwriters led by National Bank Financial Inc. and including Canaccord Genuity Corp., NCP Northland Capital Partners Inc., Cormark Securities Inc. and Industrial Alliance Securities Inc.

The net proceeds of the offering will be used by D-Box primarily to accelerate the deployment of its motion systems for commercial-theatre application, consistent with D-Box's business objective of deploying its motion systems in the commercial-theatre market and ensuring broader geographical coverage in North America.  The balance of the net proceeds will be used by D-Box for working capital and capital expenditures.

As a result of the closing of the second and final tranche of the bought-deal public offering, there are 152,152,186 issued and outstanding common shares of D-Box.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.  The shares offered have not been and will not be registered under the U.S. Securities Act of 1933 or state securities laws.  Accordingly, the shares may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration.

About D-Box

D-BOX Technologies designs and manufactures leading edge high-technology motion systems mainly suited to the needs of the entertainment industry. With its unique, patented technology, D-BOX Motion CodeTM uses motion effects specifically programmed for each film, TV series or video game, which are sent to a motion generating system integrated within either a platform or a seat. The resulting motion is perfectly synchronized with all onscreen action, creating an unmatched realistic, immersive experience. To date, D-BOX Motion CodeTM is available on more than 900 titles.

Accordingly, many prominent Hollywood studios have started embedding D-BOX Motion CodeTM on selected high definition Blu-rayTM and theatrical releases. By reaching agreements with the leaders of both the motion picture and gaming industries, D-BOX's award-winning motion technology is gradually proving itself as a new global standard in the entertainment world. D-BOX is a publicly traded company listed on the TSX Venture Exchange under the symbol DBO.A. For further information please see www.d-box.com. D-BOX® is a registered trademark and D-BOX Motion CodeTM is a trademark of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to D-Box and its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of D-Box could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described under "Risk Factors" in the annual information form of D-Box. The cautionary statements qualify all forward-looking statements attributable to D-Box and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and D-Box has no obligation to update such statements.

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

Contact Information

  • Investor Relations
    Marc Jasmin CMA, Partner
    Jasmin-Dumais Financial Communications