NeuLion announces the closing of its private placement of Class 3 Preference Shares, which was approved by the shareholders of the Company on September 27, 2010. A total of 17,176,818 Class 3 Preference Shares, at a price of CAD$0.60 per share, were issued to JK&B Capital V Special Opportunities Fund, L.P., JK&B Capital V, L.P. and Gabriel A. Battista for approximate gross proceeds of US$10 million. The Class 3 Preference Shares carry an eight percent dividend over five years and bear certain rights, preferences, privileges and restrictions. The proceeds of the private placement will be used for general working capital purposes.