D-Box Technologies Inc. (DBO.A: TSX-V) announces that it has completed a private placement in the amount of $1,675,000 by issuing 6,442,305 common shares to nine subscribers resident in Quebec and one in Europe at a price of $0.26 per share. Each common share was accompanied by one-quarter of a common share purchase warrant. Each full warrant entitles the holder thereof to subscribe for one additional common share of D-Box at a price of $0.35 for a period of one year from the closing of the private placement and at a price of $0.60 for one year thereafter. The common shares and warrants were placed directly by D-Box.
The private placement is in a maximum amount of $2.0 million. Additional closings for the remaining amount may be held until March 6, 2006.
The common shares and warrants issued to date by D-Box pursuant to the private placement are subject to a four-month hold period applicable securities legislation and stock exchange rules, which expires on June 18, 2006. As a result of the private placement, there are 54,045,641 common shares of D-Box issued and outstanding.
The proceeds from the private placement will be used by D-Box primarily for commercialization and general working capital purposes.
About D-Box
D-BOX Technologies designs and manufactures high-technology motion simulators destined mainly for the entertainment industry. Its unique, patented technology uses motion codes specifically programmed for each film or video game, resulting in motion perfectly synchronized with on-screen action. D-BOX is aiming to become the global standard in the entertainment world. Visit us at www.d-box.com.
D-BOX(R) is a registered trademark. Odyssee(TM) is a trademark of D-BOX Technologies Inc.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information: Claude McMaster, President and Chief Executive Officer, D-Box Technologies Inc., (450) 442-3003; François Kalos, Equicom Group Inc., (514) 844-6054, fkalos@equicomgroup.com