DENVER, Oct. 22, 2009 (GLOBE NEWSWIRE) -- ID Watchdog, Inc. (TSX.V:IDW) (Other OTC:IDWAF) announces today that it has closed its previously announced private placement raising gross proceeds of over $1.6 million for the Company. The financing was offered through definitive agreements with institutional and accredited investors.
The offer and sale of the securities issued in the private placement will not be registered under the United States Securities Act of 1933 or any state securities laws and unless so registered may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the United States Securities Act of 1933 and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the laws of such state.
Laidlaw & Company (UK) Ltd. acted as the exclusive placement agent for the offering.
About ID Watchdog, Inc.
Headquartered in Denver, ID Watchdog is the only identity theft detection and resolution company that provides patent-pending, three-tiered comprehensive monitoring, detection and resolution for identity theft. Unlike its competitors, ID Watchdog proactively detects identity theft problems at their source. Developed with the assistance of national consumer advocacy groups; the U.S. Postal Service; federal, state and local law enforcement agencies, and state and local Attorneys General, ID Watchdog's service is focused on detecting the source of identity theft problems as early as possible, in as many places as possible, and taking immediate corrective action on behalf of the consumer. For more information, please visit www.IDwatchdog.com.
This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 which address future events and conditions which are subject to various risks and uncertainties. The actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed in the company's filings with Canadian regulators at www.sedar.com. ID Watchdog assumes no obligation to update the forward-looking statements of management beliefs, opinions, projections, or other factors should they change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.