Agent Dundee Securities assists in financing strategic acquisitions
By Devika Patel
Knoxville, Tenn., April 5 - ZoomerMedia Ltd. said it completed a C$4.05 million private placement of stock via agent Dundee Securities Corp. The deal priced for C$15 million with a C$750,000 greenshoe on Jan. 19.
The company sold 16,211,400 common shares at C$0.25 per share. The price per share is a 4.17% premium to the Jan. 18 closing share price of C$0.24.
The deal was conducted on a best-efforts basis.
Proceeds will be used for strategic acquisitions and for general corporate working capital purposes.
The Toronto-based company operates a Canadian website specifically for adults over 45, providing content, commerce and community.
| Issuer: | ZoomerMedia Ltd.
|
| Issue: | Common stock
|
| Amount: | C$4,052,850
|
| Shares: | 16,211,400
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Dundee Securities Corp.
|
| Pricing date: | Jan. 19
|
| Settlement date: | April 5
|
| Stock symbol: | TSX Venture: ZUM
|
| Stock price: | C$0.24 at close Jan. 18
|
| Market capitalization: | C$67.34 million
|
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