Pixman Nomadic Media Inc.

Pixman Nomadic Media Inc.

November 17, 2008 09:28 ET

Pixman Nomadic Media Inc. Announces Closing of Private Placement for $500,000 from Le Fonds d'Investissement Actions-Croissance PME Inc.

MONTREAL, QUEBEC--(Marketwire - Nov. 17, 2008) - Pixman Nomadic Media Inc. (TSX VENTURE:PMN) ("Pixman") announces the closing of the $500,000 private placement made by Le Fonds d'Investissement Actions-Croissance PME Inc., as previously announced on September 25, 2008.

More particularly, the closing of the private placement made by Le Fonds d'Investissement Actions-Croissance PME Inc., which subscribed to 2,777,778 units for total gross proceeds of $500,000, was completed. Each unit consists of a common share and half a purchase warrant, each whole purchase warrant confers to its bearer the right to acquire one common share on payment of the exercise price of $0.30 in cash during a 24-month period commencing from the issue date of the units. This private placement was closed and concluded in accordance with the terms and conditions announced in Pixman's press release, dated September 25, 2008.

Pixman is also pleased to announce that it has received an advance tax ruling from the Ministere du Revenu du Quebec confirming the eligibility of its shares under SME Growth Stock Plan. Pixman's shares will soon be added to the list of eligible shares maintained by the Autorite des Marches Financiers. Consequently, Pixman's shares will qualify as eligible shares for coverage purposes, in accordance with the SME Growth Stock Plan.

TSX Venture Exchange has not published its final bulletin with respect to the aforementioned transaction. Moreover, TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pixman Nomadic Media Inc.
    Philippe Gribeauval
    President and Chief Executive Officer
    514-845-9669, ext. 264; Toll free: 1-877-PIXMAN-1
    Pixman Nomadic Media Inc.
    Michel Garneau
    Vice-President, Finance & Administration
    and Chief Financial Officer
    514-845-9669, ext. 224; Toll free: 1-877-PIXMAN-1
    Investor Relations:
    Evolution Group Inc.
    Sylvain Archambault
    514-448-4887; Toll free: 1-866-703-4887