Isee3D Inc ISEDF

Private Placement Closed

[stockarchangel]

iSee3D closes $1.05-million private placement2011-12-20 15:50 ET - News Release Mr. Tom Dalrymple reports ISEE3D ANNOUNCES NON-BROKERED EXPEDITED PRIVATE PLACEMENT.iSee3D Inc. has completed an expedited non-brokered private placement of units at a price of 10 cents per unit for gross proceeds of $1.05-million. Each unit consists of one common share of the corporation and one-half of one common share purchase warrant. Each full warrant is exercisable into a common share at 15 cents per common share and expires on Dec. 19, 2013, subject to an accelerated expiry provision which is triggered in the event the company's common shares have traded at or above 30 cents for 10 consecutive trading days.All of the securities issued in connection with this private placement are subject to a four-month restricted period that expires on April 20, 2012. The private placement remains subject to TSX Venture Exchange final approval.The proceeds will be used by the company to pursue further licensing and revenue-generating opportunities, to support the continuation of product development, and to meet its basic operating costs.The company paid finder's fees totalling $23,500 and granted 235,000 finder's warrants. Each finder's warrant is non-transferable, exercisable into a unit at 10 cents per unit and expires on Dec. 19, 2013. The finder's warrants are also subject to an accelerated expiry provision.The company chose to undertake this expedited non-brokered private placement instead of the brokered private placement announced on Nov. 23, 2011, due to market conditions.We seek Safe Harbor.