CALGARY, ALBERTA--(Aug. 1, 2008) - RepeatSeat Ltd. ("RepeatSeat" or the "Corporation") (TSX VENTURE:RPS), announces it is proceeding with a non-brokered private placement, subject to regulatory approval, to raise up to $1,500,000 (the "Private Placement") at a price of $0.12 per common share of the Corporation ("Common Share"). RepeatSeat further announces closing the first tranche of this private placement on July 31, 2008 with the issuance of 833,333 Common Shares.
There were no finders' fees and/or commissions paid in relation to the closing of the first tranche of the Private Placement; however, the Corporation may pay up to 10% in finder's fees and/or commissions to registered dealers, brokers or other arm's length individuals, pursuant to TSX Venture Exchange policy. The proceeds from the Private Placement will be used for sales and marketing initiatives and general corporate purposes.
About RepeatSeat
Headquartered in Calgary, with offices in Toronto and Denver, RepeatSeat, Ltd. offers interactive entertainment solutions through industry leading data, ticketing and mobile applications to the live event, movie, ski, tour and excursion industries throughout North America and the Caribbean. RepeatSeat also a Canadian leader in the video arcade industry is integrating this entertainment niche into its fully interactive data and mobile environment across Canada. RepeatSeat's shares are traded on the Toronto Venture Exchange (CDNX: RPS.V - News)
For all RepeatSeat investor relations needs, investors are asked to visit the RepeatSeat IR Hub at www.agoracom.com/IR/RepeatSeat where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to RPS@agoracom.com where they can also request their addition to the investor e-mail list to receive all future press releases and updates in real time.
The TSX Venture Exchange does not accept responsibility for the adequacy and accuracy of this release.
Contact:
Bob Christianson
RepeatSeat Ltd.
President and Chief Operating Officer
(403) 716-2276 or Cell Phone: (403) 827-0962
Email: bchristianson@repeatseat.com
Email: RPS@Agoracom.com
AGORACOM Investor Relations
Website: www.agoracom.com/IR/RepeatSeat
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