VoodooVox Inc.

TSX : VVX


VoodooVox Inc.

December 03, 2012 07:30 ET

VoodooVox Inc. Announces Completion of Financing in Third Closing

TORONTO, ONTARIO--(Marketwire - Dec. 3, 2012) - VoodooVox Inc. (TSX:VVX) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of VoodooVox Inc. The securities of VoodooVox Inc. have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.

VoodooVox Inc. ("VoodooVox" or the "Company") is pleased to announce that it has completed a private placement for $625,000. The Company distributed 500 debentures each with a denomination of $1,000 through a brokered private placement with Wolverton Securities Ltd. Insiders, including the Company's CEO and Chairman, subscribed for an additional 125 debentures each with a denomination of $1,000 through a non-brokered private placement. This represents the third tranche in a series of financings of up to $7,500,000 that the Company is engaged in and is working towards completing. The total amount raised by the Company pursuant to the three financings is $3,462,000.

The debentures were sold on a private placement basis to a number of accredited investors (the "Subscriber(s)"). The debentures, bearing interest at the rate of 12% per annum payable quarterly in arrears, are scheduled to mature three years from date of issuance and are secured by a general security interest covering the Company's present and after acquired property. With each $1,000 principal amount of debentures, the Company also distributed 3,000 common share warrants, each of which entitles the holder to acquire one common share in the capital of the Company at an exercise price of $0.02 per share. The warrants are scheduled to expire three years from date of issuance.

The Debentures have not been, and will not be, registered under the United States Securities Act of 1933.

About VoodooVox Inc.

VoodooVox uses consumer analytics to provide smarter mobile advertising services via the cloud to publishers, advertisers and operators. VoodooVox, which represents the combined assets and knowledge base of three companies, namely Call Genie Inc., UpSnap Services, LLC and VoodooVox, Inc., now processes billions of advertising transactions for a marquee list of global clients and partners. Currently, VoodooVox solutions are deployed in 11 countries around the world. www.voodoovox.com

The TSX Exchange has neither approved nor disapproved the contents of this news release.

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