New Issue: Artificial Life closes $2 million private placement of stock

By Sheri Kasprzak

New York, March 14 - Artificial Life, Inc. said it has wrapped a $1,999,899 private placement.

The company sold 3,636,181 shares at $0.55 each to two institutional and three private investors.

The investors received warrants for 454,545 shares, exercisable at $0.70 each, and warrants for 1,399,860 shares, exercisable at $1.00 each.

Separately, the company raised another $69,720 from the exercise of 166,000 warrants issued in 2001.

Proceeds will be used for the rollout of one of the company's mobile game products.

Based in Hong Kong, Artificial develops mobile content and game technologies.

Issuer:	Artificial Life, Inc.
Issue:	Stock
Amount:	$1,999,899
Shares:	3,636,181
Price:	$0.55
Warrants:	For 1,854,405 shares
Warrant strike price:	$0.70 for 454,545 shares; $1.00 for 1,399,860 shares
Settlement date:	March 14
Stock symbol:	OTCBB: ALIF
Stock price:	$1.10 at close March 13

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