Weed Growth Fund purchases 3,003,600 shares at $0.033 apiece via deal
By Devika Patel
Knoxville, Tenn., Nov. 20 – City Media, Inc. settled a $100,000 private placement of stock with Weed Growth Fund, Inc. on Nov. 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 3,003,600 common shares at about $0.033 per share, a 96.97% discount to the Nov. 19 closing share price of $1.10.
Proceeds were used to repay debt.
The Salt Lake City company owns and operates automated teller machines.
| Issuer: | City Media, Inc.
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| Issue: | Common shares
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| Amount: | $100,000
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| Shares: | 3,003,600
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| Price: | $0.033
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| Warrants: | No
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| Investor: | Weed Growth Fund, Inc.
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| Announcement date: | Nov. 20
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| Settlement date: | Nov. 17
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| Stock symbol: | OTCBB: CTYM
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| Stock price: | $1.10 at close Nov. 19
|
| Market capitalization: | $9.86 million
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