Futura Announces Final Closing of Private Placement
30 July 2011 - 5:26AM
Marketwired
The Futura Loyalty Group Inc. (TSX VENTURE: FUT) ("Futura" or the
"Company") has closed the third and final tranche of an equity
financing previously announced on June 30, 2011 by way of a private
placement of an aggregate of 2,000,000 units ("Units") at a price
of $0.05 per Unit for gross proceeds of $100,000 (the "Third
Closing"). The Third Closing was completed on July 29, 2011 (the
"Closing Date"). Each Unit consists of one common share of the
Company (a "Common Share") and one Common Share purchase warrant (a
"Common Share Warrant"). Each Common Share Warrant entitles the
holder to purchase one Common Share at a price of $0.10 for a
period of 5 years from the Closing Date. The gross proceeds from
the three tranches of the equity financing totals $1,045,000 which
will primarily be used to fund ongoing sales and operations.
All of the securities issued on the Closing Date are subject to
restrictions on resale until November 30, 2011 as prescribed under
applicable securities laws and the policies of the TSX Venture
Exchange ("TSXV"). The private placement is subject to final
approval by the TSXV. After giving effect to the Third Closing, an
aggregate of 184,915,651 Common Shares are issued and
outstanding.
"We have a number of great growth opportunities that this
capital will allow us to execute on as we drive to profitability.
In conjunction with our recently signed marketing agreements with
numerous provincial auto associations, this capital allows us to
significantly ramp up our sales, marketing and distribution of
loyalty currencies to auto dealers across the country" stated Mark
Farrell, CEO of Futura.
About Futura Loyalty Group
The Futura Loyalty Group Inc. is an industry-leading provider of
branded loyalty reward currencies, private branded loyalty programs
and targeted marketing solutions using email, mobile, direct mail
and the web. Futura's loyalty services include member account set
up, management and reward redemption platform, a web-based program
transaction reporting interface for merchants, a robust offer
management system, retail POS Integration for card swipe issuance
and a proprietary web based issuance solution. For more information
regarding Futura Loyalty Group, visit www.tflg.ca.
Forward-Looking Statements
This news release includes certain forward-looking statements
that are based upon current expectations, which involve risks and
uncertainties associated with our business and the environment in
which the business operates. Any statements contained herein that
are not statements of historical facts may be deemed to be
forward-looking statements, including those identified by the
expressions "anticipate", "believe", "plan", "estimate", "expect",
"intend" and similar expressions to the extent they relate to the
Company or its management. The forward looking statements are not
historical facts, but reflect the Company's current expectations
regarding future results or events. These forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from
current expectations, including any risks and uncertainties
described herein, as well as the risks and uncertainties detailed
in our final long form prospectus dated November 29, 2005 filed
with the regulatory authorities.
The TSX-Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: The Futura Loyalty Group Inc. Mark Farrell CEO
416-775-3160 mfarrell@tflg.ca www.tflg.ca
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