D-BOX Technologies Inc.

D-BOX Technologies Inc.

October 05, 2010 11:17 ET

D-BOX TECHNOLOGIES COMPLETES $1.5 MILLION PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES

LONGUEUIL, QC, Oct 5 - D-BOX Technologies Inc. (DBO.A : TSXV), a leader in innovative motion technology, is pleased to announce that it has completed a private placement by issuing 3,947,368 common shares to Le Fonds d'investissement REA II Natcan Inc. at a price of $0.38 per share, for gross proceeds to D-BOX of $1,500,000.  The private placement was conducted on a "non-brokered" basis.

"We are very pleased that Le Fonds d'investissement REA II Natcan Inc., a specialized institutional investor, participated in our private placement", said Claude Mc Master, President and Chief Executive Officer of D-BOX.  Its decision to invest and increase its existing equity position in D-BOX, is a sign of its confidence in our growth strategy.  At the same time, the proceeds from the private placement will help D-BOX carry out its business plan." Mr. Mc Master continued.

D-BOX will use the proceeds from the private placement to accelerate the deployment of its motion systems for commercial theatre application and for working capital and general corporate purposes.

As a result of the private placement, there are 128,584,936 common shares of D-BOX issued and outstanding. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period expiring on February 6, 2011. 

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 theatrical and high definition Blu-rayTM 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.

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.

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Contact Information

  • MEDIA AND GENERAL INQUIRIESINVESTOR RELATIONS
      
    Claude Mc Master
    President and Chief Executive Officer  
    D-BOX Technologies Inc.
    450-442-3003 ext. 230
    cmcmaster@d-box.com
    Marc Jasmin CMA, Partner
    Jasmin-Dumais Financial Communications
    514-231-2360
    marc@comjamais.com
      
    Luc Audet
    Chief Financial Officer
    D-BOX Technologies Inc.
    450-442-3003 ext 296
    laudet@d-box.com