TORONTO, June 20 /CNW/ - SilverBirch Inc. (TSX-V: SVB) announced today that 100% of the more than twenty million warrants issued in the December 2006 unit financing were exercised as at the June 18th expiry date generating total proceeds of $2,414,247.
Total shares outstanding are now 87,674,436, and 4,070,000 warrants remain outstanding. Total warrants as a percentage of the float have been reduced from almost 20% to less than 5%.
"This additional capital allows us to continue the momentum of our aggressive growth strategy to achieve critical mass in both the mobile and video game spaces." said SilverBirch CEO, Derek van der Plaat.
About SilverBirch Inc.
Toronto-based SilverBirch Inc. is a fully integrated developer, publisher and distributor of high quality interactive media content and, through its Jambo Mobile division, provides mobile marketing and direct-to-consumer mobile content. In addition, the company is a multi-platform video game developer and operates an MMORPG (massive multiplayer online role-playing game) game called Metin 2 (see www.metin2.us). For more information, please visit www.silverbirchstudios.com and www.jambomobile.com.
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Forward-Looking Statements - Certain information set forth in this news release, including management's assessment of future plans, contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond management's control, including the impact of general economic conditions, industry conditions, and currency fluctuations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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