Lifelogger Technologies Closes $255,000 Private Placement
LifeLogger Technologies Corp is pleased to announce it closed a private placement of $255,000 with an accredited investor through the issuance of 425,000 shares of the Company’s common stock at a price of $0.60 per share. The company will utilize these funds to finalize the development of their video cloud storage solution featuring Android and iOS APPs for Private Beta Launch in January 2015.
“Our product engineering and marketing teams have made significant progress in the last two months across multiple fronts. We improved user experience across all apps which now we are in the final stages of development and are preparing to showcase a working prototype of our camera and cloud solution software at the International CES 2015 January 6-9, 2015 in Las Vegas. Additionally, the funds will help us scale the solution architecture, processes and team in preparation for Private Beta launch. We are now better positioned to accelerate our production plans and take our camera to market in Q2 2015,” said Indra Dosanjh, Chief Product Officer.
Work continues in support of our commitment to an open API, which will make it possible for other wearable cameras on the market to use and communicate with our cloud based solution software. Early working versions of GoPro and Google Glass apps are already in the lab for further testing and validation with a target completion for Q2 2015. This will make our cloud based video management available to a multitude of users upon public launch.
For more information please refer to our 8K filed today with the Securities and Exchange Commission.
LifeLogger Technologies Corp offers a simple & secure solution to manage your video memories. The software seamlessly organizes your videos by date, time, place or person when uploaded to our cloud based service. Our advanced, small, POV wearable video camera makes it easy for you to create unique memories. For more information please visit http://lifelogger.com.
Forward Looking Statements – Safe Harbor
This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Lifelogger Technologies, Inc. to provide innovative wearable technology and related software applications and its expectations for future revenues. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, that the anticipated success of our technology may not be as expected. More information about potential factors that could affect our business and financial results is included under the captions, “Risk Factors” in the our Quarterly Report on Form 10-Q for the quarter ended Sept 30, 2014 which has been filed with the Securities and Exchange Commission (“SEC”) and available at the SEC’s website at www.sec.gov.