StonePoint Global Brands Inc.
TSX VENTURE : SPG

StonePoint Global Brands Inc.

July 02, 2009 18:08 ET

StonePoint Completes $750,000 Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2009) - StonePoint Global Brands Inc. (TSX VENTURE:SPG), the "Company", announced that it has received subscriptions for $750,000 to fill the private placement announced on May 26th, 2009. The placement was conducted at $0.15 per share and will involve a total issuance of 5,000,000 common shares (not including finders' fees). It is subject to regulatory approval.

Brokerage fees will be paid to Euroglobal Capital Partners Inc. in the amount of $29,520 cash and 196,800 broker warrants exercisable at $0.15 per share. Finders' fees of 279,667 shares will also be paid to arm's length parties according to TSX guidelines.

The shares issued under this financing will be subject to a hold period of four months plus one day from the date of closing of the offering. The proceeds will be used for working capital and business development purposes.

StonePoint CEO James Borkowski stated, "This financing allows the company to build on its successful custom branded programs to such clients as Fairmont Hotels, Caesars Palace (Harrah's Entertainment, Inc.) and Intercontinental Hotels. Through our suite of value added services, we create significant profit centers and increase brand equity for our clients. Clients of StonePoint enjoy the benefits of a single source, multi-service and logistics partnering to replace the inefficiencies of dealing with multiple vendors and traditional inventory practices. We look forward to growing this business aggressively."

About StonePoint

StonePoint delivers custom branded solutions across multiple consumer product categories. Through comprehensive quality control, best of class branding and innovative product development, StonePoint drives new revenue and brand equity for its hotel clients and international partners. Management is committed to creating value for its shareholders while maintaining the highest of ethical standards. StonePoint currently trades on the TSX Venture Exchange under the symbol "SPG".

Cautionary Statements on Forward-Looking Information.

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

Contact Information