Beamz Interactive, Inc. (OTCBB:BZIC) announced a private placement of 30,000,000 units at $0.05 per unit for gross proceeds of $1,500,000 on July 15, 2014. Each unit consists of one restricted common share and one warrant with an exercise price of $0.05 per share for a period of three years. The company will issue the securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor will be $25,000. Chardan Capital Markets, LLC served as the exclusive placement agent to the company. Other than the placement agent, no brokerage or finder's fees or commissions are or will be payable by the company. Ellenoff Grossman & Schole LLP acted as legal advisor to the company. Richard F. Dahlson of Jackson Walker L.L.P acted as legal advisor to Charles R. Mollo.

On the same day, the company has received $1,000,000 in its first tranche closing from 22 investors. The company issued 20,000,000 units in the first tranche. Charles R. Mollo, Chief Executive Officer of the company, led the transaction and invested $400,000.