RepeatSeat Ltd.
TSX VENTURE : RPS

RepeatSeat Ltd.

October 12, 2006 14:51 ET

RepeatSeat Announces the Closing of a Non-Brokered Private Placement

CALGARY, ALBERTA--(CCNMatthews - Oct. 12, 2006) - RepeatSeat Ltd. (TSX VENTURE:RPS), is pleased to announce that it closed a non-brokered Private Placement financing (the "Placement") and issued 2,618,750 Units at $0.30 per Unit for gross proceeds of $785,625, subject to regulatory approval. Each Unit will consist of one Common Share ("Common Share") and one half of one Common Share purchase warrant ("Warrant"). Each whole Warrant shall be exercisable for a period of two years from the date of issue and shall entitle the holder thereof, upon payment of the exercise price of $0.70, to acquire one additional Common Share. The Units will be subject to a four-month hold period.

The use of proceeds from the Placement will be for general working capital and marketing expansion activities.

About RepeatSeat Ltd.

RepeatSeat Ltd. is a leading global entertainment services company, offering private label ticketing in the United States, Canada and the Caribbean. The Company promotes its clients' brand instead of its own. RepeatSeat's innovative Ticket Relationship Management (TRM™) solutions provide turn-key point-of-sale, Internet and wireless applications to target markets including performing arts venues, movie theatres, sports venues, cruise ships, tourist attractions and conferences/trade shows. All solutions feature full end-user data capture and management, and one of the most comprehensive targeted permission e-mail programs available in the marketplace today. For more information on RepeatSeat, visit www.repeatseat.com.

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

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