Market Overview

GSV Capital Leads C$10 Million Non-Brokered Private Placement in ePals

ePals Corporation (OTC: EPCPF) announced today that it intends to conduct a non-brokered private placement (the "Offering") of up to 100,000,000 units of the Company (each a "Unit") at a price of C$0.10 per Unit for aggregate gross proceeds of up to C$10,000,000. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of C$0.10 until March 31, 2014.The Offering will be anchored by GSV Capital Corp. (NASDAQ: GSVC) (www.gsvcap.com) and ePals Chairman, Miles Gilburne (through one or more affiliated entities), who have each committed to invest C$2,500,000 in the Offering. GSVC is a publicly traded investment fund focused on high-growth emerging companies. GSVC's investments include companies such as Twitter, Dropbox, Spotify, Bloom Energy and Violin Memory, as well as many leading high-growth education technology and services companies such as Coursera, Chegg, 2U, Parchment, Grockit and Avenues the World School. GSVC is led by industry veteran Michael Moe, who also serves as a director of ePals.The

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Posted-In: News Guidance Financing Contracts Management Global

 

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