Qwick Media Announces Closing of Private Placement and Debt Settlement Agreement
June 01 2011 - 8:39AM
PR Newswire (US)
VANCOUVER,
June 1, 2011 /PRNewswire/ - Qwick
Media Inc. (the "Company") (OTCQB: QWIKF), announces
that, on May 30, 2011, the Company
closed a private placement consisting of the issuance of 3,010,000
common shares at US$0.20 per share
for gross proceeds of $602,000. The Company intends to use the net
proceeds of the private placement to further the advancement of the
production and marketing of its interactive micro-broadcasting
systems.
The Company also announces that it closed a debt
settlement agreement with International European Realty Limited
("IERL"), whereby 1,378,915 common shares were issued to
IERL to settle an outstanding amount equal to US$275,783.
SOURCE Qwick Media Inc.
Copyright 2011 PR Newswire
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