Feel Good Cars Corporation
TSX VENTURE : ZNN

Feel Good Cars Corporation

August 15, 2006 09:00 ET

Feel Good Cars Corporation Announces Financing of up to CDN $1.5 Million

TORONTO, ONTARIO--(CCNMatthews - Aug. 15, 2006) - Feel Good Cars Corporation (TSX VENTURE:ZNN)("FGC") is proposing to raise up to CDN $1.5 million in a non-brokered private placement. It is intended that the Company will issue up to 1,111,111 units at a price of CDN $1.35 per unit, with each unit consisting of one common share and one-half of one common share purchase warrant. Each full purchase warrant will entitle the holder to acquire one common share at a price of CDN $1.55 for a period of 18 months from the closing date of the offering. The private placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a 4-month hold period.

The net proceeds of the offering will be used to accelerate the volume of vehicle production and for general corporate purposes.

About Feel Good Cars (FGC) www.feelgoodcars.com

Feel Good Cars is dedicated to producing zero-emission transportation solutions for global markets, including the revolutionary ZENN, a perfect new urban vehicle. The ZENN recently won the gold medal for urban vehicles in the coveted Michelin Challenge.

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

Contact Information

  • Feel Good Cars Corporation
    Ian Clifford
    CEO
    (416) 535-8395 ext 202
    or
    Feel Good Cars Corporation
    Larry Schreiner
    CFO
    (416) 535-8395 ext 203
    www.feelgoodcars.com