Sofame Closes Additional $100,000 of $250,000 Private Placement

MONTREAL, Oct. 24, 2012 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW), 
(OTC.PK: SFMGF) has issued by way of private placement 5,000,000 non-brokered 
units at a price of $0.02 per unit. Shares are subject to a 12-month hold 
period. Each tranche of $5,000 is accompanied by 125,000 common share 
purchase warrants, entitling the holder to acquire one additional common share 
of Sofame at an exercise price of $0.05 until October 25th, 2013. This brings 
the total raised so far to $165,000 and efforts to raise the full $250,000 as 
announced on August 31(st) are continuing. Proceeds of the funding shall be 
applied specifically to outstanding trade debts, interes, taxes and government 
liabilities after the funding is completed. The private placement is subject 
to the TSX Venture Exchange's Notice to Issuers dated August 17, 2012, 
regarding Temporary Relief from Certain Pricing Requirements. Under the 
rules and regulations of the bulletin, the Company is in the process of 
providing TSXV with information and documentation to support TSXV's 
conditional acceptance of the Private Placement and granting relief from 
certain existing pricing requirements. 
The Private Placement has been duly and validly approved by the Company's 
Board of Directors, and no Directors have a direct interest in the Private 
Placement. This Private Placement is necessary to support existing 
operations, activities and assets, and none of the proceeds will be used to 
fund the purchase or pursuit of new businesses, operations or activities, or 
to compensate, settle indebtedness with, or otherwise satisfy obligations to, 
any person who is a Related Party (as such term is defined in Policy 1.1 of 
the TSX Venture Exchange Corporate Finance Manual). There are now 
170,715,397 issued and outstanding common shares of Sofame. 
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. 
John Gocek President & CEO (514) 523-6545 x200 
Stone Communication Services Jason Stone (416) 867-2533 jasons@stoneco.com 
SOURCE: SOFAME TECHNOLOGIES INC. 
To view this news release in HTML formatting, please use the following URL: 
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CO: SOFAME TECHNOLOGIES INC.
ST: Quebec
NI: ENV PVT  
-0- Oct/24/2012 20:34 GMT
 
 
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