KALISPELL, MT, - September 26, 2013 - (ACCESSWIRE) - Strategic Internet Investments, Incorporated (OTCBB – SIII) ("SIII" or the "Company") is pleased to announce that it has negotiated a non-brokered private placement of up to 13,300,000 units of the Company. Each unit is to be priced at $US 0.15 per unit, resulting in gross proceeds of up to $US 1,999,500. Each unit will be comprised of one common share of the Company and one half of a share purchase warrant. Each one whole share purchase warrant entitles the holder thereof to purchase one additional common share of the Company at $US 0.20 for a period of one year from the closing of the Private Placement. The shares will be issued in accordance with Rule 144 of the Securities Exchange Act of 1933.
The Placee, Alewan General Trading Ltd, ("Alewan") is a newly formed private investment and real estate company registered in Abu Dhabi, UAE and is non-arm's length to the Company. Mr. Abbas Salih, president and CEO of SIII is the registered holder of 49% of the common share capital of Alewan.
The private placement is expected to close within 30 days and is subject to completion of due diligence review of SIII by the majority shareholder of Alewan.
The Company cautions investors that as the closing of the private placement is contingent on satisfactory due diligence by Alewan there can be no assurances that the contemplated funding will be successfully closed.
Use of Proceeds
Proceeds of the Private Placement will be used to advance the Company's current real estate business and for general corporate purposes.
About Strategic Internet Investments, Inc.
As outlined in previous press releases, SIII is involved in the areas of real estate acquisition and development and is pursuing a business acquisition related to RFiD Security Authorization Systems.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products and operating as a development stage company, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at http://www.sec.gov/
Source: Strategic Internet Investments, Inc.