PCS Edventures Raises $450,000 in Private Equity Placement
Boise, Idaho – May 26, 2010 – PCS Edventures!.com, Inc., (OTCBB: PCSV-News), a leading provider of K-16 programs that emphasize hands-on student experience in Science, Technology, Engineering and Math (STEM), today announced the completion of a private placement that raised $450,000 in net equity capital.
The private offering was fully subscribed by current shareholders and accredited investors who purchased 750,000 shares of PCSV common stock at a price of $0.60 per share. The price at which the offering was completed represented a 10% discount from the closing price of PCSV common stock on the OTC Bulletin Board on the date of the offering. Investors also received common stock purchase warrants equivalent to 33% of the number of common shares purchased in the offering. Each stock purchase warrant expires in 24 months and allows the warrant holder to purchase shares of PCSV common stock at a price of $0.60 per share.
About PCS Edventures!
PCS Edventures!.com, Inc. (PCS) designs and delivers educational products and services to the K-16 market that develop contemporary skills for the 21st century, including critical thinking, problem solving, innovation, creativity, and communications. PCS programs emphasize hands-on experiences in Science, Technology, Engineering and Math (STEM) and have been deployed at over 6,000 sites in all 50 United States and 17 foreign countries. Additional information is available on the Internet at http://www.edventures.com.
PCS Edventures is headquartered in Boise, Idaho, and its common stock is listed on the OTC Bulletin Board under the symbol “PCSV”.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-KSB for the year ended March 31, 2009 and Form 10-Q for the nine months ended December 31, 2009 as filed with the Securities and Exchange Commission.
For additional information, please contact:
Anthony A. Maher, CEO at (208) 343-3110 or via email at firstname.lastname@example.org
RJ Falkner & Company, Inc., Investor Relations Counsel at (830) 693-4400 or via email at email@example.com