Non-brokered offering is expected to finance general working capital
By Devika Patel
Knoxville, Tenn., Aug. 28 - Intertainment Media Inc. said it plans a C$2.5 million non-brokered private placement of units.
The company will sell 12.5 million units of one common share and one warrant at C$0.20 per unit. Each warrant will be exercisable at C$0.29 for five years. The strike price reflects a 31.82% premium to the Aug. 27 closing share price of C$0.22.
Proceeds will be used for general working capital.
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$2.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.29
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 28
|
| Stock symbol: | TSX Venture: INT
|
| Stock price: | C$0.22 at close Aug. 27
|
| Market capitalization: | C$73.7 million
|
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