Tracker adds investment dealer exemption for financing

TRACKER ANNOUNCES UPDATE TO PRIVATE PLACEMENT

A portion of Tracker Ventures Corp.’s previously announced non-brokered private placement may be completed pursuant to British Columbia Instrument 45-536, Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer, and the corresponding blanket orders and rules in the other Canadian jurisdictions that have adopted the same or a similar exemption from the prospectus requirement. The investment dealer exemption is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick to a person or company who has obtained advice regarding the suitability of the investment from a person registered as an investment dealer in such person’s or company’s jurisdiction.

As previously announced, the private placement consists of up to 1.5 million units of the company at a price of 65 cents per unit, for aggregate gross proceeds of up to $975,000. Each unit will be composed of one common share and one-half of one common share purchase warrant, with each warrant to be exercisable for two years at $1.30 per Tracker share. There is no minimum offering size for the private placement and the maximum offering size of the private placement is 1.5 million units for maximum gross proceeds of $975,000.

Assuming the private placement is fully subscribed, the company plans to allocate the gross proceeds therefrom to business development (in respect of $200,000), marketing (in respect of $500,000) and general working capital purposes (in respect of $275,000) in connection with the company’s pending acquisition of Contakt World Technologies Corp. Finders’ fees may be paid in accordance with securities regulations. If the private placement is not fully subscribed, the company will apply the proceeds to the aforementioned uses in priority and in such proportions as the board of directors and management of the company determine is in the best interests of the company. Although the company intends to use the proceeds of the private placement as described herein, the actual allocation of proceeds may vary from the uses set out herein depending on future operations, events or opportunities.

As required by the investment dealer exemption, the company confirms that, as of the date of this press release, there is no material fact or material change (as those terms are defined under applicable securities laws) related to the company that has not been generally disclosed.