Streetlight Intelligence Inc.

Streetlight Intelligence Inc.

July 14, 2005 18:50 ET

Streetlight Intelligence Inc. Announces Closing of Financing

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - July 14, 2005) - Streetlight Intelligence Inc. (TSX VENTURE:SLQ) ("STI") is pleased to announce that the private placement, previously announced on May 25, 2005, in the amount of 999,995 units of STI ("Units") at a purchase price of $0.75 per Unit for gross proceeds of $750,000, has been concluded.

Each Unit consists of one (1) common share and one-half (1/2) of a transferable common share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder thereof to purchase a further common share at an exercise price of $1.00 per common share on or before the expiration of eighteen (18) months from the date of issuance thereof. The Units issued under this private placement are subject to a four month hold period expiring on November 15, 2005.

Of the 999,995 Units issued, 80,000 Units were sold pursuant to a brokered private placement involving Wolverton Securities Ltd. (the "Agent"). STI paid the Agent a cash commission equal to 7.5% of the gross proceeds raised by the Agent. Additionally, STI paid a cash finder's fee of $24,077 to non brokered agents.

Proceeds of the private placement will be used for general working capital and research and development expenses.

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

Contact Information

  • Streetlight Intelligence Inc.
    Martin A. Winstanley
    Vice President
    (250) 544-0147 ext. 24
    Streetlight Intelligence Inc.
    19 - 6782 Veyaness Road
    Victoria, B.C. V8M 2C2