Telehop Communications Inc. - Private Placement

    




 TORONTO, July 16, 2012 /CNW/ - Telehop Communications Inc. ("Telehop")  announced today that it intends to complete a non-brokered private  placement of up to $750,000 through the issuance of units (each, a "Unit" and collectively, the "Units") at a price of $0.10 per Unit, where each Unit consists of one common  share and one-half of one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share  over a two-year period (subject to acceleration in the event that the  closing price of the company's common shares on the TSX Venture  Exchange, for a period of 10 consecutive trading days, exceeds $0.25  per common share) at a price of $0.15 per common share.  Telehop may  engage one or more finders to assist it in the sale of Units, with each  finder receiving (i) a cash payment equal to 7.5% of the proceeds  received by Telehop through introductions made by the respective  finder, and (ii) warrants to purchase that number of common shares  equal to 7.5% of the Units sold by Telehop to purchasers introduced by  each such finder. 

 The proceeds of the private placement will be used by Telehop to finance  the capital and marketing requirements needed to implement its  strategic relationship with a leading national telecommunications  company whereby mobile customers will be able to place overseas calls  using Telehop's long distance services; the strategic relationship was  announced on July 3, 2012. 

 All securities issued in connection with the offering will be subject to  a four-month hold period in accordance with applicable Canadian  securities laws. The offering is subject to the approval of the TSX  Venture Exchange and required regulatory approvals. 

 About Telehop 

 Telehop Communications Inc. , was founded in 1993 and is  headquartered in Toronto, Ontario, and has grown into one of the  largest alternative telecommunications providers to both residential  and business customers. 

 Telehop is an Equal Access Long Distance Providers, allowing it to offer  its customers full service long distance calling globally at  significantly lower rates. The Canadian Radio-television and  Telecommunications Commission ("CRTC") has licensed Telehop as a Class  "A" telecommunications carrier. 

 Neither the TSX Venture Exchange nor its Regulation Services Provider  (as that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this news  release. 

Telehop Communications Inc.


CONTACT:  Mr. Rajiv Jagota, President and CEO: Tel: [phone];email [e-mail] 


    

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