Mr. Jake Kalpakian reports
LVFH CLOSES TWO TRANCHES OF THE NON-BROKERED PRIVATE PLACEMENT FINANCING
Further to the company's news release dated Feb. 25, 2015, Las Vegas From Home.com Entertainment Inc. has closed two tranches under the discretionary relief non-brokered private-placement financing. The company issued a total of 12,471,429 units at 3.5 cents per unit for total gross proceeds to the company of $436,500.02. Each unit consists of one common share in the capital of the company and one share purchase warrant, and each warrant will entitle the holder to purchase one common share of the company at a price of 10 cents per common share for a period of two years from closing. The first-tranche closing consisted of 8.5 million units and the second-tranche closing consisted of 3,971,429 units. All securities issued have a hold period expiring on June 28, 2015, as to the first tranche and July 4, 2015, as to the second tranche. The company has paid finders' fees totalling $2,275 to arm's-length third parties.
LVFH intends to use the proceeds from this private placement for the payment of the company's outstanding liabilities and toward the company's development team for the rollout of the company's product expansion.
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