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HearAtLast Announces Completion of Initial Private Placement Financing Totaling US $1,000,000
Date:11/26/2007

TORONTO, Nov. 26 /PRNewswire-FirstCall/ -- (OTC Pinksheets: HRAL)- HearAtLast Holdings, Inc. announced today that it has completed a US $1 million private placement of its restricted common stock. On November 2, 2007, the Company closed its initial round of private equity financing since going public (commonly referred to as a "PIPE" transaction), and obtained investment funds from accredited investors in the aggregate sum of US $1,000,000 for the purchase of 666,667 shares of the Company's restricted common stock, which represents a purchase price of $1.50 per share. The private equity investors have agreed to a contractual two year "lock-up" on re-sale of the shares in the public market, terms which management believes are very favorable to the Company and its current shareholders.

HearAtLast management is pleased to point out that the PIPE funding terms negotiated are simple stock purchase agreements with no convertible features, warrants, stock options or any type of preferred securitization. All common stock sold in these two transactions will bear a two year restriction and holders of such securities are restricted from selling their stock pursuant to rule 144 prior to the two year anniversary of the stock purchase date. The Company is not subject to any "death spiral" or dilutive terms in these straight forward restricted stock purchase agreements.

As a condition of the private placements, HearAtLast CEO, Matteo Sacco, has agreed to return to treasury and cancel the like amount of 666,667 shares of the Company's common stock he currently holds, to eliminate any dilution to the current HearAtLast shareholders.

"This initial funding tranche will provide us with the necessary capital to continue the aggressive expansion set forth in our business plan," stated Matteo Sacco, CEO of HearAtLast. "We could not be more pleased with the terms of these agreements as it demonstrates the long term commitment and overall confidence that these fu
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SOURCE HearAtLast Holdings, Inc.
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