Knightscove Media Corp. Announces Private Placement Financing
May 19 2011 - 9:48AM
Marketwired
Knightscove Media Corp. (TSX VENTURE: KC.A)(TSX VENTURE: KC.B)
("Knightscove") is pleased to announce that it intends to complete
a non-brokered private placement financing of units ("Units") at a
price of $0.10 per Unit for gross proceeds of up to
CDN$2,000,000.00 (the "Offering"). Each Unit shall consist of one
subordinate voting share ("KC Share") of Knightscove and one-half
of one subordinate voting share purchase warrant ("Warrant"), each
whole Warrant entitling the holder to acquire one KC Share at an
exercise price of CDN$0.20 per KC Share for a term of one year.
Knightscove intends to use the net proceeds to reduce the debt of
the Corporation and for working capital purposes. Knightscove may
pay finder's fees to eligible persons with respect to the Offering
and will be subject to receipt of regulatory approval.
The KC Shares, the Warrants and the KC Shares issuable upon the
exercise of the Warrants are subject to resale restrictions.
Closing of the Offering is subject to receipt of regulatory
approval, including final TSX Venture Exchange approval.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release or the
information contained herein.
Contacts: Knightscove Media Corp. Leif Bristow President and CEO
(416) 222-7900 x222
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