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ZIP.H

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:ZIP.H TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Ziplocal Inc. Increases Private Placement

18/10/2012 9:01pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES


ZIPLOCAL INC. (TSX VENTURE:ZIP.H) ("Ziplocal" or the "Company") has increased
the maximum number of Units being offered pursuant to the brokered private
placement (the "Offering") announced on August 16, 2012. 


As previously announced, Ziplocal intends to offer, on a private placement
basis, units (the "Units") at a price of $1,000 per Unit. The maximum number of
Units being offered has increased from 250 to 500, with maximum gross proceeds
increasing to $500,000. The first closing of the Offering is expected to occur
before October 31, 2012.


The proceeds of the Offering will be used for working capital and general
corporate purposes. 


Completion of the Offering is subject to receipt of all required regulatory
approvals, including the approval of NEX (the "Exchange"). 


All of the securities issued in connection with the Offering will be subject to
a hold period expiring four months and one day after the relevant closing date. 


The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons absent registration
or an applicable exemption from registration requirements. This release does not
constitute an offer or sale of securities in the United States.


The Exchange has in no way passed upon the merits of the proposed Offering and
has neither approved nor disapproved the contents of this press release.


ABOUT ZIPLOCAL INC.

Ziplocal is listed on NEX of the TSX Venture Exchange. Ziplocal currently has
79,757,515 Common Shares outstanding.


Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding a proposed
offering, including the proposed use of proceeds of the offering. Actual
developments may differ materially from those contemplated by these statements
depending upon, among other things, the ability of the Company to raise the
funds and decisions made by regulators. The forward looking statements contained
in this press release represent the Company's views and expectations as of the
date of this release and should not be relied upon as representing its views and
expectations at any subsequent date.


Shares Outstanding: 79,757,515

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