SOURCE: Level Vision Electronics

April 29, 2009 09:30 ET

LEVEL Vision Electronics Concludes $4.7 Million Financing

MONTREAL--(Marketwire - April 29, 2009) - LEVEL Vision Electronics Ltd. (PINKSHEETS: LVLV) today announced that it has signed a financing agreement with Cunningham-Adams Small Cap Fund II for a total financing in the amount of $4.7 million USD.

The financing is structured as a non-toxic convertible debenture with a seven year term at an annual interest rate of 9% and debenture is convertible into common shares of the company at 25% discount to market with a floor price of $0.53 and a ceiling price of $1.28. The debenture is secured by a general security agreement. The closing of the financing and initial disbursement is subject to due-diligence requirements, whereby said closing is expected to be on or before June 25, 2009. It should be noted that the financing was initially to be made by the Cunningham-Adams Small Cap Fund I and it is now going to be made by Fund II, which was recently launched.

About LEVEL Vision Electronics

LEVEL Vision Electronics is an ODM / OEM (designer and manufacturer) of consumer electronics (mainly Wireless Handsets) primarily concentrating on the world's emerging markets. Through its Unique Business Model, LEVEL works hand-in-hand with the Telcos to customize the products to their specific targeted market requirements.

Our current products can be found online at www.levelelectronics.com and our upcoming related software products are currently under development.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

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