Destiny Media Closes Private Placement to Directors

 VANCOUVER, June 13, 2014 /CNW/ - Destiny Media Technologies (TSXV: DSY)  (OTCQX: DSNY) announces that it has closed its private placement to its  directors for 128,701 shares of common stock at USD $0.96 per share for gross  proceeds of USD $123,553.  The shares sold pursuant to the private placement may only be resold pursuant  to Regulation S of the U.S. Securities Act, an effective registration  statement under the U.S. Securities Act or pursuant to an another exemption  from registration of the U.S. Securities Act.  Under Canadian securities laws,  the shares are subject to restrictions on transfer until October 14, 2014.  As members of the board of directors subscribed for all of the shares under  the private placement, the issuance of the shares is considered a related  party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral  Instrument 61-101. Destiny Media is relying on exemptions from the formal  valuation and minority shareholder approval requirements provided under  sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that  participation in the private placement by insiders did not exceed 25% of the  fair market value of Destiny Media's market capitalization  Proceeds from the private placement will be used for general working capital  purposes.  On Behalf of the Board of Directors  Steve Vestergaard CEO  Destiny Media Technologies provides services that enable content owners to  securely display and distribute their audio and video content digitally  through the internet. The Company's two major services are Clipstream and Play  MPE®. Clipstream (www.clipstream.com) is a video format that plays on any  modern smart phone, tablet, internet, TV, or computer. With Clipstream, there  is no player to configure or install, videos never go obsolete, and there are  up to 90% cost savings by reducing the use of transcoding, infrastructure and  bandwidth. Play MPE (www.plaympe.com) provides a standardized method to  securely and cost effectively distribute pre-release music to radio stations  and other music industry professionals, before it is ready for sale. More  information can be found at www.dsny.com.  Safe Harbor Statement  This press release contains forward-looking statements within the meaning of  the Private Securities Litigation Reform Act of 1995.  Forward-looking  statements are subject to risks, uncertainties and assumptions and are  identified by words such as "expects," “intends”, "estimates," "projects,"  "anticipates," "believes," "could," and other similar words.  All statements  addressing product performance, events, or developments that Destiny Media  Technologies, Inc. expects or anticipates will occur in the future are  forward-looking statements.  Because the statements are forward-looking, they  should be evaluated in light of important risk factors and uncertainties.   Should one or more of these risks or uncertainties materialize, or should any  of Destiny Media Technologies, Inc.’s underlying assumptions prove  incorrect, actual results may vary materially from those currently  anticipated.  Except as required by law, Destiny Media Technologies, Inc.  disclaims any obligation to update or publicly announce any revisions to any  of the forward-looking statements contained in this press release.  There can  be no assurance that such statements will prove to be accurate and actual  results and future events could differ materially from those anticipated in  such statements.  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.    SOURCE  Destiny Media Technologies, Inc.  Contacts: Steve Vestergaard CEO Destiny Media Technologies, Inc. 604 609 7736  x222 Investor Relations: Dave Mossberg Three Part Advisors 817-310-0051  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/June2014/13/c9906.html  CO: Destiny Media Technologies, Inc. ST: British Columbia NI: SOF PVT  
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