By Devika Patel
Knoxville, Tenn., April 6 - Intertainment Media Inc. said it arranged a C$3 million private placement of units. M Partners Inc., the agent, has a 15% greenshoe.
The company will sell 18.75 million units at C$0.16 apiece on a commercially reasonable efforts basis. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.20 for two years.
Intertainment, a Toronto-based conventional and new media company, will use the proceeds for growth, debt repayment and general working capital.
| Issuer: | Intertainment Media Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Greenshoe: | 15%
|
| Units: | 18.75 million
|
| Price: | C$0.16
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | M Partners Inc.
|
| Pricing date: | April 6
|
| Stock symbol: | TSX Venture: INT
|
| Stock price: | C$0.17 at close April 5
|
| Market capitalization: | C$17.3 million
|
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