TORONTO, Sept. 22 /CNW/ -- TORONTO, Sept. 22 /CNW/ - iseemedia Inc. ("iseemedia") (TSX-V: IEE), a leading provider of mobile email for mass market mobile phones, advised today that its previously announced brokered private placement of 33,333,334 Subscription Receipts has been completed. This offering was conducted at a price of $0.09 per Subscription Receipt for aggregate gross proceeds of $3,000,000.06 (the "iseemedia Offering"). The Subscription Receipts have all been exercised into 33,333,334 common shares and 33,333,334 common share purchase warrants of iseemedia, with each warrant exercisable into one common share at a price of $0.12 for a period of 36 months following the date of issuance. Northern Securities Inc. ("Northern") acted as sole agent for the iseemedia Offering. iseemedia paid Northern a cash commission of 8% of the gross proceeds, a $175,000 work fee and 3,333,333 Broker Warrants, each Broker Warrant being exercisable into one common share and one warrant exercisable at $0.09 per iseemedia common share for a period 36 months following the closing date. All securities issued upon the exercise of the Subscription Receipts have been tendered to the offer made by Synchronica plc (AIM: SYNC; TSX-V:SYN), the international provider of next-generation mobile-messaging services, on July 22, 2010 to acquire all issued and outstanding common shares and common share purchase warrants of iseemedia. They were immediately taken up by Synchronica plc ("Synchronica") and exchanged for a total of 8,956,660 ordinary shares and 8,956,660 warrants (each warrant being exercisable for one ordinary share of Synchronica at a price of (pnds stlg)0.7718 per Share until 11th December 2011). The net proceeds of the iseemedia Offering will be used for sales and marketing, research and development, product and market expansion, general corporate and working capital purposes. All of the ordinary shares of Synchronica identified above have been admitted for trading on AIM, a market of the London Stock Exchange, and were included in the shares of Synchronica listed for trading on the TSX Venture Exchange when trading in that company's shares commenced today. Synchronica has also taken up an additional 263,000 common shares of iseemedia tendered since September 15, 2010 to its take-over bid for iseemedia, and those shares will be exchanged for a total of 70,667 ordinary shares of Synchronica. Currently, Synchronica holds more than 82% of the common shares of iseemedia. As previously announced, in an effort to acquire at least 90 percent of iseemedia and further expedite a second-stage going private transaction, Synchronica has extended its take-over bid for all the common shares and warrants of iseemedia to 5:00 p.m. (Toronto time) on Friday, September 24, 2010. This extension will provide additional time for those current shareholders and warrant holders of iseemedia who have not deposited their securities to the bid to do so. During the extension period, subject to securities law requirements, Synchronica may, in its discretion, take up any additional shares or warrants deposited in accordance with the bid's terms. About iseemedia iseemedia Inc. is a mobile software company focused on the commercialization of a Service Delivery Platform (iseemail(TM)) for delivering push Email services to the mass market and an advanced Content Delivery Platform (iseedocs(TM)) for rich media adaptation and extremely cost-efficient network delivery to mobile devices. The Company maintains a broad portfolio of issued and pending patents that cover content authoring, streaming and interactive viewing on mobile devices. iseemedia was founded in March 2002 and has been traded on the TSX Venture Exchange in Toronto since June 2005. Forward-Looking Statements This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with iseemedia's 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, 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 iseemedia'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 the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on March 31, 2009 with the regulatory authorities. iseemedia assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements. Cautionary Statement: Neither 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. %SEDAR: 00020202E

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