OTTAWA, ONTARIO--(Marketwire - Nov. 8, 2012) - Yourcitydeals Inc. ("Yourcitydeals", the "Company") is pleased to announce that it has entered into an agreement with an accredited investor ("Investor") to secure equity line financing. Separately, the Company also received funding from convertible debentures.
Yourcitydeals will use the $50 million in funds from this investment agreement to fund the development, marketing and expansion of its daily deal website, which will help provide customers with even more opportunities to save!
"To say that we're pleased with this financing arrangement is an understatement," noted Amanda Lee Chief Community Officer of Yourcitydeals Inc. "This equity line financing will allow us to access the funds we require for the further expansion of Yourcitydeals. The low discount to market will help us augment the value for our shareholders while minimizing dilution."
Yourcitydeals, based in Ottawa, ON, has recently commenced with its plan to expand nationally, and is currently in the process of being featured in 12 new markets.
It's free to subscribe to Yourcitydeals! With a few clicks of your mouse, gregarious deals that only we can provide will be sent to your inbox daily. If you miss a day, you'll miss a deal!
About YourCityDeals.com: YourCityDeals.com is an online service saving you money on the best your city has to offer. Whether it's food and drinks, attractions, products, or services, YourCityDeals.com offers deep discounts you won't find anywhere else, through the magic of social buying power.
Forward Looking Statements: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.