Multiplied Media Corporation announces pricing of private placement

    /NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR
    DISSEMINATION TO U.S. NEWSWIRE SERVICES/

    CALGARY, July 22 /CNW/ - Multiplied Media Corporation (the
"Company")(TSX:V MMC), a Calgary-based provider of mobile local search
services, today announced that its previously announced private placement
financing (the "Offering") on a "best efforts" basis with a syndicate of
agents led by Research Capital Corporation and including Blackmont Capital
Inc. and Acumen Capital Finance Partners Inc. (collectively, the "Agents") has
been priced at $0.06 per common share ("Common Share") for total gross
proceeds of up to $7,000,000. The Company will be proceeding with an offering
of Common Shares of the Company instead of an offering of units, as was
previously disclosed in the Company's June 4, 2009 press release. The other
terms and conditions of the Offering remain unchanged.
    As consideration for their participation in the Offering, the Agents will
receive a cash commission equal to 7.0% of the gross proceeds raised. In
addition, the Agents will receive compensation options equal to 10.0% of the
aggregate number of Common Shares issued pursuant to the Offering at a price
of $0.06 per Common Share, exercisable for a period of 24 months following the
closing date.
    The Company intends to use proceeds of the Offering for development and
integration of UnoMobi's products (the proposed acquisition of which was
disclosed by the Company on June 1, 2009), development and deployment of the
Company's existing product on additional smartphone platforms, releasing the
Company's products into new geographic areas, and for general working capital
purposes.
    The securities issued under the Offering will be subject to a four-month
hold period from the date of distribution. The Offering is expected to close
on or about July 30, 2009 and is subject to receipt of all necessary
regulatory approvals and satisfaction of all other customary closing
conditions.

    About Multiplied Media Corporation
    ----------------------------------

    Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the mobile local search service available
over BlackBerry smartphones. Through agreements with directory and vertical
content providers in Canada, the United States and Europe, Poynt simplifies
finding and connecting with businesses, retailers and events wherever and
whenever it is most convenient for the consumer. Headquartered in Calgary, AB,
Canada, Multiplied Media trades on the TSX Venture Exchange under the symbol
MMC.

    Forward Looking Statement
    -------------------------

    This news release contains forward-looking statements relating to the
proposed Offering and other statements that are not historical facts,
including statements regarding the anticipated maximum proceeds of the
Offering, the use of proceeds of the Offering, projected timing of closing the
Offering and the receipt of all necessary regulatory approvals and
satisfaction of all other customary closing conditions in connection with the
Offering. Such forward-looking statements are subject to important risks,
uncertainties and assumptions. The results or events predicated in these
forward-looking statements may differ materially from actual results or
events. As a result, you are cautioned not to place undue reliance on these
forward-looking statements.
    These forward-looking statements are based on certain key assumptions
regarding, among other things: state of the economy in general and capital
markets in particular, investor interest in the Company's business and future
prospects, the ability of the Agents to successfully market the proposed
Offering, the timing of obtaining regulatory approvals and satisfying closing
conditions. Material risk factors that could cause actual results to differ
materially from the forward-looking information include, but are not limited
to: the risk that closing of the Offering could be delayed if the Company is
not able to obtain the necessary regulatory and stock exchange approvals on
the timelines it has planned; the risk that the Offering will not be completed
at all if these approvals are not obtained or some other condition to the
closing is not satisfied; the risk that the intended use of the net proceeds
of the Offering by the Company might change if the board of directors of the
Company determines that it would be in the best interests of the Company to
deploy the proceeds for some other purpose; risks that the marketing efforts
will not result in the anticipated proceeds; the deteriorating economic and
market conditions that could lead to reduced spending on information
technology products; competition in our target markets; potential capital
needs; management of future growth and expansion; the development,
implementation and execution of the Company's strategic vision; risk of
third-party claims of infringement; protection of proprietary information;
customer acceptance of the Company's existing and newly introduced products
and fee structures; the success of the Company's brand development efforts;
risks associated with strategic alliances; reliance on distribution channels;
product concentration; need to develop new and enhanced products; potential
product defects; the Company's ability to hire and retain qualified employees
and key management personnel; and risks associated with changes in domestic
and international market conditions and the entry into and development of new
for the Company's products.
    The forward-looking statements contained in this press release are made
as of the date of this press release. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to
comment on expectations of, or statements made by, third parties in respect of
the proposed Offering.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.

For further information: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 444-4102, andrew.osis@multiplied.com