Totally Hip Announces Financing
Posted on May 31, 2002
Symbol: THC-TSX Venture Exchange ( www.tse-cdnx.com
)
Phone: 604 685 6525 e-mail: investor@totallyhip.com
Vancouver, Canada
- May 31, 2002 - Totally Hip Software Inc. (TSEX:THW)
is pleased to announce that it has agreed to a private
placement of its securities to raise up to $650,000
which will consist of the sale of up to 4,333,333 post-consolidation
units at $0.15 per unit, each unit consisting of one
post-consolidation common share and one two year non-transferable
share purchase warrant with each such share purchase
warrant entitling each holder to purchase one additional
post-consolidation common share of the Company at a
price of $0.20 per share.
The proceeds of the private placement
will be used for general corporate purposes including
reducing debt, research and development and marketing.
A finder's fee may be payable in cash
on a portion of the private placement. Both the finder's
fee and the private placement are subject to TSX Venture
Exchange acceptance for filing.
Totally Hip Software Inc. has been
advised by the TSX Venture Exchange that the previously
announced 1 for 10 consolidation of its share capital
and a change of the Company's name to Totally Hip Inc.
will become effective Wednesday June 5, 2002. The new
trading symbol of the Company will be THC. Shareholders
of Totally Hip approved the share consolidation and
name change at the Company's Annual General Meeting
held on February 26, 2002.
About Totally Hip
Totally Hip Software Inc.(tm) is an
award winning digital media publishing software solution
company specializing in products and services for the
media content developer market that:
- Meet the demand for digital media content combined
with intense interactive capabilities;
- Create media for multi purpose deployment such as
web, CD-ROM and DVD;
- Radically increase project workflow and simplify
the publishing process;
- Significantly enrich viewer awareness, comprehension,
participation and retention;
- Maximize deployment of Apple Computer's QuickTime
media player; and
- Enable multi-channel delivery of completed communications
projects via dial-up, broadband, streaming; and downloadable
options.
Totally Hip Inc.
Per: "Steve Simpson"
Steve Simpson, CEO & President
For further information, please contact:
Larry Whitehead, Totally Hip Software Inc.
Suite 201- 1040 Hamilton Street
Vancouver, BC V6B 2R9
Tel: (604) 685-6526 ext 225
Email: ldw@totallyhip.com
The TSX Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of
the content of this News Release.
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