GC-Global Capital Corp. and iseemedia Inc. Enter Into $1,000,000 Loan Agreement
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TORONTO, ONTARIO, Jun 24 (MARKET WIRE) --
GC-Global Capital Corp. (TSX VENTURE: GDE.A) ("Global Capital") and
iseemedia Inc. (TSX VENTURE: IEE) ("iseemedia") are pleased to announce
the completion of a secured loan (the "Loan") in the principal amount of
$1,000,000. The twelve month secured Loan bears interest at 12% per
annum, payable monthly.
As consideration for providing the Loan, Global Capital will be issued
1,500,000 common shares of iseemedia at a deemed price of $0.09 per
share.
"We are pleased to be able to provide financing to an exciting company
like iseemedia. They are a past client of ours and we have kept ourselves
updated on their growth for the last two years." said Global Capital's
C.E.O., Jason Ewart. He added "iseemedia is positioned within one of the
fastest growing business sectors - Wireless communications. We believe
that iseemedia is now at the point where their years of research and
development will pay off in 2009 through the signing of new contracts for
their Wireless software applications."
"This financing will be instrumental in delivering our wireless solutions
to carriers that are now planning to go live in the coming months," said
Anthony DeCristofaro, President and Chief Executive Officer. "Global
understands and is committed to the potential growth opportunity that our
Company is focused on."
About iseemedia
iseemedia Inc. is a software development company focused on the
commercialization of advanced, rich content adaptation and distribution
solutions for Web and wireless applications. The Company maintains a
portfolio of issued and pending wireless and imaging patents that support
authoring, streaming and interactive viewing of content. For further
information, please contact David Berman, CFO at (416) 761-5293 or visit
iseemedia's website at www.iseemedia.com
About Global Capital
Global Capital is a merchant bank, which provides bridge loan services
(asset back/collateralized financing), to companies across many
industries such as oil & gas, mining, real estate, manufacturing, retail,
financial services, technology and biotechnology. For further
information, please contact Jason G. Ewart at (416) 488-7760 or visit
Global's website at www.gcglobalcapital.ca .
Neither 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 release.
Contacts:
iseemedia Inc.
David Berman
CFO
(416) 761-5293
www.iseemedia.com
Global Capital
Jason G. Ewart
(416) 488-7760
www.gcglobalcapital.ca
Copyright 2009, Market Wire, All rights reserved.
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