TORONTO, ONTARIO--(Marketwire - Jan. 17, 2013) -
NOT FOR DISSEMINATION IN THE UNITED STATES
TransGaming Inc. (TSX VENTURE:TNG) ("TransGaming" or the "Company") today announced that the Company completed a non-brokered private placement of $301,560. A total of 3,769,500 units were issued to subscribers in Canada. Each unit was priced at $0.08 and is comprised of one (1) common share and one (1) common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.12 at any time on or before the 24-month anniversary of the closing date.
The net proceeds from the private placement will be used by the Company for working capital and general corporate purposes.
The Offering is subject to the approval of the TSX Venture Exchange. Securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.
About TransGaming Inc.
TransGaming Inc. (TSX VENTURE:TNG) is the global leader in the multiplatform deployment of interactive entertainment. TransGaming works with the industry's leading developers and publishers to enable and distribute games for Smart TVs, next-generation set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.