HIPSO MULTIMEDIA OBTAINS EQUITY FINANCING

^{Published on 2010-09-08 05:41:13 - Market Wire}
 

HIPSO MULTIMEDIA OBTAINS EQUITY FINANCING

Commitment of Up to $5,000,000 From Dutchess Capital

MONTREAL, Sept. 8 /PRNewswire-FirstCall/ - Hipso Multimedia Inc (OTCBB: HPSO) announced today that it has obtained an equity financing commitment of up to $5,000,000 from a private equity firm, Dutchess Capital, through its Dutchess Opportunity Fund, LP. During the 36-month term of this equity commitment, Hipso Multimedia may sell shares of its common stock to Dutchess Capital up to the total committed amount. Hipso will determine, at its sole discretion, the amount and timing of any sales of these shares. The sales are subject to certain conditions about which additional details will be provided in an 8-K filing with the SEC.

Hipso's Chief Executive Officer, René Arbic, stated, "We are very pleased with Dutchess' commitment. It is one of several financing strategies that will be pursued to accelerate the commercialization of our products and business growth. Dutchess has the track record and experience in the industry and has been a leader in providing equity credit lines for over 10 years which contributed significantly to selecting them as our partner."

About Hipso Multimedia Inc.

Hipso Multimedia, Inc., through its wholly owned subsidiary Valtech Communications Inc. provides cutting edge technology and service in the triple play telecommunications industry. It intends to become a major force in the IPTV (Internet Protocol Television Broadcasting) arena.

Please visit [ www.HIPSO.tv ] and [ www.VALTECH.ca ] for additional information.

This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within Hipso's filings with the Securities and Exchange Commission.

SOURCE Hipso Multimedia Inc.