ID Watchdog Inc
			Symbol			IDW
			Shares Issued			62,916,107
			Close 2009-11-17			C$ 0.39
			Recent Sedar Documents

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ID Watchdog closes $59,400 second tranche

2009-11-19 16:03 ET - News Release

Ms. Felicia Morgan reports

ID WATCHDOG, INC. REPORTS SECOND CLOSING OF PRIVATE PLACEMENT OF CONVERTIBLE DEBT FOR TOTAL AGGREGATE GROSS PROCEEDS OF $1,703,880

ID Watchdog Inc., further to its press release in Stockwatch on Oct. 22, 2009, has completed a second closing of senior extendable deferred convertible notes for aggregate gross proceeds of $59,400. The total aggregate gross proceeds raised pursuant to the private placement of notes is $1,703,880. Certain directors, officers and consultants of the company subscribed for notes pursuant to the private placement.

Each unsecured note matures in April, 2010, but may be extended by the company for an additional six months upon payment of an extension fee. The notes bear interest at the rate of 10 per cent per annum and, if the principal amount of the notes is not repaid at maturity, the notes will be convertible into ordinary shares in the capital of the company at a rate of 25.69 U.S. cents (the closing price of the ordinary shares on the TSX Venture Exchange on Oct. 21, 2009) per $1,000 in principal amount of notes, which conversion would result in the issuance of an aggregate of 6,632,453 ordinary shares. In connection with the issuance of the notes, the company also issued to the subscribers 1,946 ordinary share purchase warrants per $1,000 in principal amount of notes, for an aggregate total of 3,315,750 warrants. Each warrant entitles the holder thereof to purchase one ordinary share at an exercise price to be determined based on certain future conditions and expires five years from the date of issuance. If the principal amount outstanding under the notes is not repaid at the maturity date the company will be required to issue an additional 1,946 warrants per $1,000 in principal amount of notes, or an additional 3,315,750 warrants in the aggregate.

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