News Releases

ISee3D Announces Debt Settlement

Montreal, QC, Canada - June 13, 2008 - Isee3D Inc. ("Isee3D") (TSX-V: ICT.H) announced today that it has settled $566,000.00 in outstanding debt through the issuance of 5,660,000 units (the "Units") at a deemed price of $0.10 per Unit under a debt settlement previously first announced on April 1, 2008. Each Unit is comprised of one common share and one-quarter of one share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase a further common share at a price of $0.15 for a period of one year. All securities issued in the debt settlement are subject to a hold period expiring on October 14, 2008.

A.G. Solutions Ltd. of Vancouver, BC received 2,738,000 Units on the completion of the debt settlement transaction. A.G. Solutions now holds 2,738,000 common shares, representing 19.8 % of the Company's outstanding capital and 684,500 share purchase warrants. Mr. Alan Smith, Director, of Vancouver, BC, owns and controls A.G. Solutions Ltd. Assuming the exercise of the warrants Mr. Smith would then own or control an aggregate of 3,422,500 common shares, representing 24.7 % of the Company's then outstanding capital.

The Company is advised that the securities were acquired by A.G. Solutions for investment purposes. While they do not currently have any intention to acquire further securities of the Company, A.G. Solutions or Mr. Smith may in the future acquire or dispose of securities of the Company, through the market or otherwise, as circumstances or market conditions warrant.

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About ISee3D
ISee3D is driving the universal adoption of 3D single lens capture – from consumers and Hollywood to health care and military. The company is introducing the first commercially feasible single lens, single camera 3D capture technology. Scalable in size from one mm in diameter to more than 250 mm, the patented technology can be applied across many devices. Through its patented optical switch technologies, ISee3D continues to aggressively pursue the best in 3D innovation to ensure an immersive 3D viewing experience, rather than the traditional two lenses or 2D conversion approaches that are the current standard. The company is headquartered in Vancouver with offices in Toronto.

 

Corporate Contact
Tom Dalrymple, Chief Operating Officer
ISee3D Inc.
Office: 416-848-6353

full news release in PDF

 
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