Funds used for investment in film, television intellectual properties
By Devika Patel
Knoxville, Tenn., March 17 - Rainmaker Entertainment Inc. said it settled a C$7.5 million private placement of 8% unsecured convertible debentures due March 31, 2016.
The debenture converts to common stock at a conversion price of C$0.20 per share. The conversion price is identical to the March 14 closing share price.
Proceeds will be used for investment into film and television intellectual properties as well as additional working capital.
Based in Vancouver, B.C., Rainmaker is an animation studio and producer of computer generated animation.
| Issuer: | Rainmaker Entertainment Inc.
|
| Issue: | Unsecured convertible debenture
|
| Amount: | C$7.5 million
|
| Maturity: | March 31, 2016
|
| Coupon: | 8%
|
| Conversion price: | C$0.20
|
| Warrants: | No
|
| Settlement date: | March 17
|
| Stock symbol: | Toronto: RNK
|
| Stock price: | C$0.20 at close March 14
|
| Market capitalization: | C$3.5 million
|
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