TORONTO, Oct. 28 /CNW/ - Aberdeen Gould Capital Markets Ltd., advisor to SilverBirch Inc. (TSXV:SVB) has agreed to take settlement of $45,000 of its fees with SilverBirch shares and warrants ("units") under the same terms as the recently closed Private Placement, administered by them, which closed on October 16, 2008.
The transaction is subject to exchange approval, and provides for the issue of 562,500 units. As disclosed in the news release dated October 17, 2008, each unit consists of one Common Share priced at $0.08, and one half (1/2) Common Share purchase warrant of Silverbirch Inc. Each whole Warrant entitles the holder to acquire one additional Common Share at a price of $0.18 per share until October 27, 2010. The Common Shares, Warrants and Common Shares issuable upon exercise of the Warrants will be subject to a four month hold period expiring February 28, 2009.
About SilverBirch Inc.
Toronto-based SilverBirch Inc. is a leading digital media company operating in the fastest growing sectors of the video game and mobile markets. The company's video game operations include SilverBirch Studios, a mobile and handheld video game developer, Lighthouse Interactive, a publisher of interactive entertainment based in the Netherlands, and a co-venture with G4Box Inc. to operate licensed English language online multiplayer games. In its mobile division it provides mobile marketing services through Jambo Mobile Solutions and mobile content by way of an investment in CrossRoad Mobile. For more information see www.silverbirchinc.com.
As noted above, completion of the transaction is subject to but not limited to, acceptance by the TSX Venture Exchange. The transaction cannot close until the required approvals have been obtained.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release.
%SEDAR: 00020946E