TransGaming Inc.
TSX VENTURE : TNG

TransGaming Inc.

October 27, 2006 08:30 ET

TransGaming Engages CTI Capital to Raise up to $1,000,000

TORONTO, ONTARIO--(CCNMatthews - Oct. 27, 2006) - TransGaming Inc. (TSX VENTURE:TNG)("TransGaming"), a leading developer of software portability products for the electronic entertainment industry, announced today that it has engaged CTI Capital Inc. ("CTI") to raise a minimum of $500,000 and a maximum of $1,000,000 by way of a best-efforts private placement offering (the "Offering") of units of TransGaming (the "Units") to accredited investors in the provinces of Alberta, British Columbia, Ontario, and Quebec.

Priced at $0.25, each Unit will be comprised of one (1) common share of TransGaming ("Common Share") and one-half (1/2) common share purchase warrant ("Warrant"). Each full Warrant will entitle its holder to purchase one Common Share at a price of $0.40 at any time on or before the 18-month anniversary of the closing date.

A minimum of 2,000,000 Units and a maximum of 4,000,000 Units will be issued as a result of the Offering. TransGaming expects to use the net proceeds for working capital purposes.

About TransGaming Inc.

TransGaming is a leader in the development of software portability products that allow game developers and publishers to develop games for one system and deploy them across multiple platforms - faster, cheaper and better than anyone else. The platforms supported range from Linux, Mac to Xbox®, PlayStation 2, and next generation systems. TransGaming is a registered Microsoft Xbox developer and a licensed Sony PlayStation 2 and PlayStation Portable developer.

TransGaming is headquartered in Toronto, Canada and maintains a research and development center in Ottawa, Canada. More information about the company can be obtained at www.transgaming.com.

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

Contact Information