Lemontonic Inc.

Lemontonic Inc.

October 25, 2005 16:42 ET

Lemontonic Inc. Announces Revised Financing Terms

TORONTO, ONTARIO--(CCNMatthews - Oct. 25, 2005) -

(Not for dissemination in the United States of America)

Lemontonic Inc. (TSX VENTURE:LEM) ("Lemontonic" or the "Corporation") today announced an amendment to its proposed financing. The intention of the Corporation has always been to issue the Units (as defined below) to be priced in the context of the market of the Corporation. In accordance with that, the subscription receipt price has been revised from $0.07 to $0.06 per subscription receipt unit (the "Units") and the Warrant (as defined below) exercise price has been revised from $0.15 to $0.10. Each Unit consists of one Class A Share (the "Share") of the Corporation and one share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one Share at a price of $0.10 for a period of two years from the date of issuance. The number of Units remains unchanged. The closing date has been extended to October 26, 2005 or soon thereafter.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

Contact Information

  • Lemontonic Inc.
    Mark Pavan
    (416) 874-7199
    Kevin R. Callahan
    President and Chief Executive Officer
    (905) 712-2061 ext. 222