By Devika Patel
Knoxville, Tenn., Aug. 7 - Multiplied Media Corp. said it settled a C$2.92 million private placement. The deal was announced on June 4 and priced for C$7 million on July 22.
The company sold 48,643,717 shares at C$0.06 apiece.
Research Capital Corp. was the agent.
The proceeds will be used to develop and integrate UnoMobi Inc.'s products following Multiplied Media's proposed acquisition of the company, to develop and deploy Multiplied Media's existing product, Poynt, on additional smartphone platforms, for the release of the company's products into new geographic areas and for general working capital purposes.
Multiplied Media is a Calgary, Alta.-based provider of mobile local search services.
| Issuer: | Multiplied Media Corp.
|
| Issue: | Common shares
|
| Amount: | C$2,918,623.02
|
| Shares: | 48,643,717
|
| Price: | C$0.06
|
| Warrants: | No
|
| Agent: | Research Capital Corp.
|
| Announcement date: | June 4
|
| Pricing date: | July 22
|
| Settlement date: | Aug. 7
|
| Stock symbol: | TSX Venture: MMC
|
| Stock price: | C$0.085 at close July 22
|
| Market capitalization: | C$6.26 million
|
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