By Sheri Kasprzak
New York, April 24 - Noble House Entertainment Inc. has negotiated a private placement for $1.4 million just a week after completing a $1 million offering.
The new deal includes up to 2 million units of one share and one half-share warrant. The whole warrants are exercisable at $0.85 each for two years.
The price per unit is a 39% discount to the company's $1.15 closing stock price Monday.
The offering is scheduled to close May 4.
The proceeds will be used for working capital.
On April 17, the company sold 2 million units at $0.50 each. Those units included one share and one half-share warrant with each whole warrant exercisable at $0.65 for two years.
Based in Toronto, Ont., Noble House develops and produces films, television series, television movies and non-fiction programming.
| Issuer: | Noble House Entertainment Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | $1.4 million
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| Units: | 2 million
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| Price: | $0.70
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | $0.85
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| Pricing date: | April 24
|
| Settlement date: | May 4
|
| Stock symbol: | OTCBB: NHSEF
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| Stock price: | $1.15 at close April 24
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