/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION
TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, Feb. 5, 2015 /CNW/ - Multivision Communications
Corp. ("Multivision" or the "Company") (TSX VENTURE:
MTV) is pleased to announce that, further to its news release of
January 7, 2015, the Company is
increasing the size of its previously announced non-brokered
private placement (the "Private Placement") of units
("Units"). Pursuant to the Private Placement the Company will
issue up to 5,000,000 Units at a price of $0.15 per Unit for gross proceeds of up to
$750,000 subject to regulatory
approval.
Each Unit will be comprised of one common share in the capital
of the Company and one non-transferable common share purchase
warrant (each a "Warrant"). Each Warrant will entitle the holder
thereof to purchase an additional common share of the Company at an
exercise price of $0.20 per common
share for a period of two years from the date of issue; provided,
however, that the Company will be entitled to accelerate the expiry
date of the Warrants to the date that is 30 days following the date
that the Company provides notice to holders that the closing price
of the common shares on the TSX Venture Exchange ("Exchange") has
been equal to or greater than $0.30
for twenty consecutive trading days prior thereto.
The Company is evaluating business opportunities to determine
the focus of its future business and is currently pursuing several
potential transactions in the technology sector. The net proceeds
of the Private Placement are expected to be utilized by the Company
to continue to evaluate and pursue business opportunities and for
general corporate and working capital purposes.
Finder's fees may be payable in connection with the completion
of the private placement in accordance with the policies of the
Exchange.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Information Certain information
contained in this news release, including information relating to
the proposed private placement, use of proceeds and the Company
pursuing potential business transactions may be deemed
"forward-looking". All statements in this news release, other
than statements of historical fact, that address events or
developments that Multivision expects to occur, are
"forward-looking information". These statements relate to
future events and reflect Multivision's current expectations or
beliefs and are based on information currently available to
Multivision. Assumptions upon which such forward looking
information are based on the Company's current operations,
estimates, forecasts and projections and other factors and events
that are not within the control of Multivision and there is no
assurance they will prove to be correct. Forward-looking
information is not a guarantee of future performance and actual
results and future events could differ materially from those
discussed in the forward-looking information. All of the
forward-looking information contained in this news release is
qualified by these cautionary statements. Although
Multivision believes that the forward-looking information contained
in this news release is based on reasonable assumptions, readers
cannot be assured that actual results will be consistent with such
statements. Accordingly, readers are cautioned against
placing undue reliance on forward-looking information.
Multivision expressly disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, events or otherwise, except in
accordance with applicable securities laws.
This news release and the information contained herein does
not constitute an offer of securities for sale in the United States and securities may not be
offered or sold in the United
States absent registration or exemption from
registration.
SOURCE Multivision Communications Corp.