Las Vegas From Home.com Entertainment Inc. Closes First Tranche of the Non-Brokered Private Placement Financing
June 17 2010 - 8:00AM
Marketwired
Las Vegas From Home.com Entertainment Inc. (the "Company" or "Las
Vegas") (TSX VENTURE: LVH)(PINK SHEETS: LVFHF)(FRANKFURT:
LVH)(BERLIN: LVH) announces that further to its News Release dated
May 18, 2010, the Company has closed the first tranche of the
non-brokered private placement financing and has issued, in
aggregate, 24,100,000 Units at $0.05 per Unit to various
Subscribers for total proceeds to the Company of $1,205,000. Each
Unit consists of one common share in the capital of the Company and
one share purchase warrant to purchase an additional common share
in the capital of the Company, exercisable at the price of $0.10
per common share if exercised in the first year from Closing and at
the price of $0.25 per common share if exercised in the second year
from Closing. In respect to the first tranche closing, 2,000,000
common shares have been issued as finder's fee to an arm's length
party. All shares issued pursuant to the first tranche closing are
subject to a hold period expiring on October 18, 2010.
The proceeds of the non-brokered private placement financing
will be used for the continued development and roll-out of certain
new and innovative products in targeted markets with established
strategic operational partners.
On behalf of the Board of Las Vegas From Home.com Entertainment
Inc.
Jake H. Kalpakian, President
Statements made in this news release that relate to future
plans, events or performances are forward-looking statements. Any
statement in this news release containing words such as "believes",
"plans", "expects" or "intends" and other statements that are not
historical facts are forward-looking, and these statements involve
risks and uncertainties and are based on current expectations.
Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Las Vegas From Home.com Entertainment Inc. Jake H.
Kalpakian President (604) 681-0204 ext 6105 (604) 681-9428 (FAX)
info@lvfh.com www.lvfh.com
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