New Issue: Options Media negotiates $2.01 million private placement of preferreds

By Devika Patel

Knoxville, Tenn., Dec. 17 - Options Media Group Holdings, Inc. arranged a $2.01 million private placement of series B convertible preferred stock on Dec. 16, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The preferreds are convertible into common shares for two years at $0.035 per share.

Options Media, formerly Heavy Metal, Inc., is a private company based in Hallandale, Fla.

Issuer:	Options Media Group Holdings, Inc.
Issue:	Series B convertible preferred stock
Amount:	$2,012,500
Conversion price:	$0.035
Warrants:	No
Pricing date:	Dec. 16

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