SOURCE: NeuLion, Inc.

NeuLion, Inc.

June 29, 2011 17:30 ET

NeuLion Announces the Closing of a Private Placement

PLAINVIEW, NY--(Marketwire - Jun 29, 2011) - NeuLion, Inc. (TSX: NLN), the true end-to-end technology service provider for delivering live and on-demand content to any Internet-enabled device, announced today the closing of a private placement of its Class 4 Preference Shares, which was approved by the Board of Directors in accordance with NeuLion's Certificate of Incorporation, as amended. A total of 10,912,265 Class 4 Preference Shares, at a price of $0.4582 per share, were issued to JK&B Capital V Special Opportunity Fund, L.P. and JK&B Capital V, L.P. for approximate gross proceeds of $5 million. The Class 4 Preference Shares carry an eight percent dividend until the occurrence of a liquidation event or, no sooner than five years after closing, redemption by NeuLion, and bear certain rights, preferences, privileges and restrictions. The proceeds of the private placement will be used for general working capital purposes.

About NeuLion

Founded in 2000, NeuLion, Inc. (TSX: NLN) offers the true end-to-end solution for delivering live and on-demand content to any Internet-enabled device. NeuLion empowers content owners and distributors, cable operators and telecommunications companies to capitalize on the massive consumer demand for viewing video content on PCs, smartphones, tablets etc. NeuLion's customers include major entertainment, sports, global content companies and news companies. NeuLion is based in Plainview, NY. For more information about NeuLion, visit www.neulion.com.

Forward-Looking Statements

Certain statements herein are forward-looking statements and represent NeuLion's current intentions in respect of future activities. These statements, in addressing future events and conditions, involve inherent risks and uncertainties. Forward-looking statements can be identified by the use of the words "will," "expect," "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-looking statements involve significant risk, uncertainties and assumptions. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this release are based upon what management believes to be reasonable assumptions, NeuLion cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and NeuLion assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause NeuLion's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including: our ability to realize some or all of the anticipated benefits of our partnerships; general economic and market segment conditions; our continued relationships with our content partners; competitor activity; product capability and acceptance rates; technology changes; foreign exchange risk; interest rate risk; and credit risk. A more detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in the "Risk Factors" section of NeuLion's most recent annual report on Form 10-K available on www.sec.gov and filed on www.sedar.com as well as in NeuLion's most recent annual MD&A filed on www.sedar.com.

Contact Information

  • Press Contact:
    Jennifer Powalski
    +1-516-622-8334
    Email Contact

    Investor Relations Contact:
    Marc Sokol
    +1-516-622-8386
    Email Contact