Business
Section Rouge Media Inc. Announces Filing of Preliminary Prospectus
Section Rouge Media Inc. Announces Filing of Preliminary Prospectus.
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"\n\n\n\n\nTSX Venture Exchange: SRO\n\nLONGUEUIL, QC, May 26 /CNW Telbec/ - Section Rouge Media Inc. (\"Section\nRouge\") (TSX Venture Exchange: SRO) announced today that it has filed with the\nAutoritDe des marchDes financiers (QuDebec) a Preliminary Prospectus for a\nMinimum of $1,000,000 (or 4,000,000 Units) and a Maximum of $2,500,000 (or\n10,000,000 Units). Each Unit at a price of $0.25 consists of one common share\nof Section Rouge and one common share purchase warrant. Each warrant will\nenable its holder to subscribe one common share at a price of $0.30 at any\ntime during the 24 months following the closing. Section Rouge shall have the\noption to accelerate the warrant exercise period should the average price of\nits shares trade at a value equal to or greater than $0.45 for 20 consecutive\ntrading days. Union Securities Ltd. is acting as agent under the offering.\nClosing is expected to occur on or about June 30, 2006, and in any event\nnot later than 90 days after the date of receipt of the final prospectus.\nThis offering is made in connection with the Acquisition by Section Rouge\nof all the issued and outstanding common shares of Image in Media Inc. as\npreviously announced on April 07, 2006. The net proceeds will be affected to\ngeneral working capital of Section Rouge, and more specifically towards the\ndevelopment of Image In Media's business plan.\n\nCompletion of the Acquisition is subject to a number of conditions,\nincluding but not limited to, Exchange acceptance and Shareholder approval.\nThere can be no assurance that the Acquisition will be completed as proposed\nor at all.\n\nThe TSX Venture Exchange has in no way passed upon the merits of the\nproposed acquisition and has neither approved nor disapproved the\ncontents of this press release.\n%SEDAR: 00008697EF\n\n\n","length":1861,"tagName":"div"}]