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GameCorp Announces Private Placement Financing for up to $500 Thousand(May 28, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 05/28/12 -- GameCorp Ltd. ("the Company") (CNSX:GGG)(PINKSHEETS:GAIMF) is pleased to announce its intention to raise up to $500 thousand through a best efforts marketed private placement (the "Offering") of common shares of the Company (the "Common Shares"). Each Common Share will be priced at $0.05.
The Company has retained Portfolio Strategies Securities Inc. (www.pssecurities.ca) as sole lead agent (the "Agent") in connection with the Offering. Selling brokers will receive a commission of 8% cash and 8% broker warrants at the Offering price. Net proceeds from the Offering will be used to for working capital and development of the Company's BPO business plan.
The Common Shares will be subject to a four-month hold period under applicable Canadian securities laws. The Offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals.
GameCorp Ltd. is a public company that trades under the symbol GGG on the Canadian National Stock Exchange (www.cnsx.ca) and under the symbol GAIMF on the Pink Sheets of the Over the Counter Bulletin Board. In general, the Company is a merchant banking company that is opportunistic with its investment scope. The Company has investments in mobile and gaming technology, and has recently acquired OC Communications Group Inc. ("OCCGI"). OCCGI is a business process outsourcing ("BPO") company that has been in business for six years and provides outsourced services, such as call center, loyalty program administration, credit services, utility services, telecom and technical support, to a broad based clientele in both Canada and the United States. OCCGI operates out of state-of-the-art outsourcing facilities, headquartered in Toronto, Canada. GameCorp continues to look for investment opportunities and special situations as they arise.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
ON BEHALF OF GAMECORP LTD.
For additional information please visit the Company's website at www.gamecorp.com or refer to www.sedar.com.
This press release contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. These statements involve risks and uncertainties including, without limitation, GameCorp's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
The Canadian National Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Mr. Graham Simmonds
Chairman, President and Chief Executive Officer
Portfolio Strategies Securities Inc.
Mr. Robert Carbonaro
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