Vancouver, BC - April 2, 2007 - Even Technologies Inc. ("Even" or the "Company" TSX-V: ETI) is pleased to advise that it has arranged a non-brokered private placement of 584,000 Shares of Even at CDN$0.40 per Share for gross proceeds of approximately CDN$233,600.
Even will pay a finder’s fee equal to 8% in cash of the gross proceeds raised to AMAC Asset Management and Consulting Limited.
Proceeds from the financing will be used for marketing, customer support, inventory and general corporate purposes. The private placement is subject to regulatory approval.
The Company has today granted incentive stock options to its directors, officers, employees and consultants to purchase a total of 3,187,000 shares of the Company at a price of $0.45 per share. The options expire on April 2, 2012 and are subject to a hold period that expires on August 3, 2007. The options granted to consultants of the Company are subject to the same terms as above except that they expire on August 2, 2009. Also, in accordance with the policies of the Exchange, all of the options are subject to vesting provisions for the first 18 months.
About Even Technologies Inc.
Even Technologies Inc. (EVEN) is a Vancouver-based company specializing in advanced digital image and video coding techniques and in the development and integration of high-performance systems for media content production and dissemination over broadband networks. Since its inception in 1997, EVEN has developed its next generation general-purpose still image (PSI_Xâ„¢) and video (PSI_Vâ„¢) coding engines as well as a number of commercial systems including a facial image coding system, a digital media coding studio and an IP-network television content dissemination system.
Even has implemented this technology in a family of products designed for peak performance and flexibility. The PSI_V™ codec is the most technologically advanced video compression engine on the market, capable of visual DVD quality at 700kbps. The technology also allows Video on Demand and Video Streaming over existing telco wire line. Even’s sustainable competitive advantage lies in the patent protected technologies developed for use in their revolutionary line of compression products. This technology enables file savings of 30-40% over the competition, while producing images of much higher quality. The technology has evolved, and will continue to evolve, to maintain Even’s position at the forefront of compression technology.
Any content, anywhere, anytime.
For more information, visit www.eventechnologiesinc.com.
On Behalf of the Board of Directors:
(signed) "Nick Ringma"
Nick Ringma
Director
Copyright © 2007 Even Technologies Inc.™, EVEN™, PSI™, dme™ and other marks, names, logos and icons identifying Even Technologies Inc. and Even Technologies’ products and services referenced herein are trademarks or registered trademarks of Even Technologies Inc. All other company, product and/or brand names or marks are the trademarks of their respective owners.
Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like “strategyâ€, “expectsâ€, “plansâ€, “believesâ€, “willâ€, “estimatesâ€, “intendsâ€, “projectsâ€, “goalsâ€, “targetsâ€, and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this business plan are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbor for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.