TransGaming wraps C$1.2 million units placement with C$300,000 tranche

Deal sells units to fund working capital, general corporate purposes

By Devika Patel

Knoxville, Tenn., June 28 - TransGaming Inc. said it raised C$300,000 in the final tranche of a C$1.2 million non-brokered private placement of units. It raised C$175,000 on Nov. 20, 2012, C$150,000 on Dec. 4, 2012, C$150,000 on Dec. 21, 2012, C$300,000 on Feb. 1 and C$150,000 on April 8. The deal had been expected to raise C$1.8 million.

The company sold a total of 11,100,298 units. It sold 875,000 units of one common share and one warrant at C$0.20 per unit in the initial tranche and 1,566,416 units at C$0.09576 per unit in the second tranche. The company sold 2,142,857 units at C$0.07 per unit in the third tranche and 2,307,692 units at C$0.13 per unit in the fourth tranche. It sold 1,333,333 units at C$0.1125 per unit in the fifth tranche and 3 million units at C$0.10 per unit in the final tranche.

Each first-tranche warrant will be exercisable at C$0.30 for two years. The strike price reflects a 57.9% premium to the Nov. 19, 2012 closing share price of C$0.19. The two-year second tranche warrants are each exercisable at C$0.1436, a 24.42% discount to the Nov. 19 closing price. The two-year third tranche warrants are each exercisable at C$0.105, a 44.74% discount to the Nov. 19 closing price. The two-year fourth tranche warrants are exercisable at C$0.20, a 5.26% premium to the Nov. 19 closing price. The two-year fifth tranche warrants are each exercisable at C$0.1687, an 11.21% discount to the Nov. 19 closing price. The sixth-tranche warrants are each exercisable at C$0.15 for two years. The strike price is a 21.05% discount to the Nov. 19 closing price.

Proceeds will be used for working capital and general corporate purposes.

Based in Toronto, TransGaming is a developer of software portability products that allow game developers and publishers to develop games for one system and deploy them across multiple platforms.

Issuer:	TransGaming Inc.
Issue:	Units of one common share and one warrant
Amount:	C$1.2 million
Units:	11,100,298
Prices:	C$0.20, C$0.09576, C$0.07, C$0.13, C$0.1125, C$0.10
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike prices:	C$0.30, C$0.1436, C$0.20, C$0.1687, C$0.15
Agent:	Non-brokered
Settlement dates:	Nov. 20, 2012 (for C$175,000), Dec. 4, 2012 (for C$150,000), Dec. 21, 2012 (for C$150,000), Feb. 1 (for C$300,000), April 8 (for C$150,000), June 28 (for C$300,000)
Stock symbol:	TSX Venture: TNG
Stock price:	C$0.19 at close Nov. 19
Market capitalization:	C$8.83 million

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