By Sheri Kasprzak
New York, March 3 - Kangaroo Media Inc. said it plans to raise C$17,000,450 in a private placement.
The company will issue 14,783,000 shares at C$1.15 each.
Underwriters Desjardins Securities Inc. and Sprott Securities Inc. have a greenshoe for up to 2.61 million shares.
The deal is expected to close March 21.
Proceeds will be used for capital expenditures, licensing rights acquisitions and working capital.
Based in Montreal, Kangaroo develops multimedia sports content.
| Issuer: | Kangaroo Media Inc.
|
| Issue: | Stock
|
| Amount: | C$17,000,450
|
| Shares: | 14,783,000
|
| Greenshoe: | For 2.61 million shares
|
| Price: | C$1.15
|
| Warrants: | No
|
| Underwriters: | Desjardins Securities Inc. and Sprott Securities Inc.
|
| Pricing date: | March 3
|
| Settlement date: | March 21
|
| Stock symbol: | TSX Venture: KTV
|
| Stock price: | C$1.37 at close March 3
|
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