TORONTO, ONTARIO--(Marketwire - Dec. 6, 2007) - TransGaming Inc. (TSX VENTURE:TNG) ("TransGaming" or the "Company"), a leading developer of software portability products for the electronic entertainment industry, announced today that it will close its private placement offering of units (the "Offering") on Tuesday, December 11.
As previously announced, TransGaming will raise a minimum of $1,000,000 and a maximum of $1,500,000 from Canadian subscribers, with CTI Capital Securities Inc. acting as agent. In the United States, TransGaming will raise a revised minimum of $1,000,000 and a maximum of $4,000,000 via direct subscriptions. The decision was made to reduce the minimum amount in the United States in light of the current softness in U.S. equity markets.
A minimum of 3,636,364 units and a maximum of 10,000,000 units will be issued as a result of the Offering. If the Offering is not fully subscribed, TransGaming intends to proceed with an additional closing session on a best-efforts basis.
About TransGaming Inc.
TransGaming is a leader in the development of software portability products that allow game developers and publishers to develop games for one system and deploy them across multiple platforms - faster, cheaper and better than anyone else. TransGaming is headquartered in Toronto, Canada and maintains a research and development center in Ottawa, Canada. More information about the company can be obtained at www.transgaming.com.The TSX Venture Exchange does not accept the responsibility for the adequacy or accuracy of this release.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here