By Devika Patel
Knoxville, Tenn., March 19 - Intertainment Media Inc. said it plans to conduct a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.10 apiece. Each warrant will be exercisable at C$0.18 for two years. The warrants may expire sooner if the company's common shares close at C$0.30 or higher for 30 consecutive trading days.
Proceeds will be used for strategic growth opportunities and for general corporate purposes.
Intertainment Media is a Toronto-based conventional and new media company.
| Issuer: | Intertainment Media Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | March 19
|
| Stock symbol: | TSX Venture: INT
|
| Stock price: | C$0.095 at close March 18
|
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