New Issue: TransGaming plans up to C$5.5 million in placements of units

By Devika Patel

Knoxville, Tenn., Nov. 6 - TransGaming Inc. announced it will conduct two private placements of units to raise up to C$5.5 million. The first deal, for between C$1 million and C$1.5 million, will be conducted by CTI Capital Inc., and the second, non-brokered, placement will raise between C$3.5 million and C$4 million.

In the both placements, the company will sell a total of between 8,181,818 and 10 million units at C$0.55 each. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.85 for two years. Expiry of the warrants may be extended by another 18 months if TransGaming becomes a Tier 1 company on the TSX Venture Exchange.

Based in Toronto, TransGaming is a developer of software portability products that allow game developers and publishers to develop games for one system and deploy them across multiple platforms.

Issuer:	TransGaming Inc.
Issue:	Units of one common share and one warrant
Amount:	C$4.5 million (minimum), C$5.5 million (maximum)
Units:	8,181,818 (minimum), 10 million (maximum)
Price:	C$0.55
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.85
Pricing date:	Nov. 6
Stock symbol:	TSX Venture: TNG
Stock price:	C$0.54 at close Nov. 5
First placement
Amount:	C$1 million (minimum), C$1.5 million (maximum)
Agent:	CTI Capital Inc.
Second placement
Amount:	C$3.5 million (minimum), C$4 million (maximum)
Agent:	Non-brokered

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