Non-brokered deal funds acceleration of Ortsbo, itiBiti and Ad Taffy
By Devika Patel
Knoxville, Tenn., Dec. 21 - Intertainment Media Inc. said it plans a non-brokered private placement of units. The deal will raise about C$1.1 million.
The company will sell units of one common share and one warrant at C$0.10 per unit. Each warrant will be exercisable at C$0.13 for two years. The strike price reflects a 30% premium to the Dec. 20 closing share price of C$0.10.
Proceeds will be used to accelerate Ortsbo, itiBiti and Ad Taffy, as well as for corporate purposes.
Intertainment is a Toronto-based conventional and new media company.
| Issuer: | Intertainment Media Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.1 million (approximate)
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.13
|
| Agent: | Non-brokered
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| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: INT
|
| Stock price: | C$0.10 at close Dec. 20
|
| Market capitalization: | C$11.92 million
|
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