Montreal, QC, Canada - March 25, 2009 - ISee3D Inc. (TSX-V: ICT) reports that it has closed the final tranche of its previously announced private placement, first announced on February 19, 2009.
The final closing consists of 1,102,706 units at a price of $0.15 per unit for an aggregate proceeds of $165,406. Each unit consists of one common share and one-half of one transferable share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share of the Company for a period of six months from the date of closing at a price of $0.20.
In connection with monies raised under the final tranche of the private placement, the Company paid aggregate finders fees in the amount of $7,770 and issued an aggregate of 51,800 finder's shares at a deemed price of $0.15 per share.
All securities issued in connection with the private placement are subject to a four month and a day hold period. The net proceeds from the financing will be used for working capital.