D-BOX Technologies Inc., a leader in innovative motion technology, is pleased to announce that it has completed a private placement by issuing 3,947,368 common shares to Le Fonds d'investissement REA II Natcan Inc. at a price of $0.38 per share, for gross proceeds to D-BOX of $1,500,000. The private placement was conducted on a "non-brokered" basis.
"We are very pleased that Le Fonds d'investissement REA II Natcan Inc., a specialized institutional investor, participated in our private placement", said Claude Mc Master, President and Chief Executive Officer of D-BOX. Its decision to invest and increase its existing equity position in D-BOX, is a sign of its confidence in our growth strategy. At the same time, the proceeds from the private placement will help D-BOX carry out its business plan." Mr. Mc Master continued.
D-BOX will use the proceeds from the private placement to accelerate the deployment of its motion systems for commercial theatre application and for working capital and general corporate purposes.
As a result of the private placement, there are 128,584,936 common shares of D-BOX issued and outstanding. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period expiring on February 6, 2011.