Business
Section Rouge Media Inc. completes its public offering and qualifies in the SME Growth Stock Plan
Section Rouge Media Inc. completes its public offering and qualifies in the SME Growth Stock Plan.
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"\n\n\n\n\nTSX VENTURE EXCHANGE: SRO\n\nMONTREAL, Oct. 30 /CNW Telbec/ - Section Rouge Media Inc. (\"Section\nRouge\") (TSX Venture Exchange: SRO) announced today that it has completed the\nsecond and final closing of its public offering for 2,233,000 additional units\nat a price of $0.25 per unit for gross proceeds of $558,250. Each unit is\ncomprised of one common share of Section Rouge at a price of $0.25 per share\nand one common share purchase warrant. Each warrant entitles its holder to\nsubscribe to one common share of Section Rouge at a price of $0.30 at any time\nuntil July 12, 2008. Section Rouge has the option to accelerate the warrant\nexercise period should the average price of its shares trade at a value equal\nor greater than $0.45 for 20 consecutive trading days.\nUnion Securities Ltd. (\"Union\") acted as agent under the offering.\nSection Rouge paid Union a cash commission of ten percent (10%) of the gross\nproceeds received from the second closing of the offering. In addition, Union\nbroker warrants to purchase 223,300 additional units of Section Rouge have\nbeen granted as partial consideration at a price of $0.25 per unit for a\nperiod of 24 months of initial closing.\nThe net proceeds of the offering will be affected towards the development\nof Section Rouge subsidiary's - Image In Media Inc. - business plan and to\ngeneral working capital of Section Rouge.\nSection Rouge has received from the MinistGere du Revenu du QuDebec an\nadvance ruling confirming that its common shares will qualify for inclusion in\nthe SME Growth Stock Plan in accordance with the Budget and the provisions of\nthe Taxation Act (QuDebec).\n\nAbout Section Rouge Media and Image in Media\n\nSection Rouge (TSX Venture Exchange - SRO) is an integrated entertainment\ncompany which specializes in both publishing and electronic content production\nand distribution. Its publications division publishes 30 titles regularly\n(magazines and games). Through its wholly-owned subsidiary, Image in Media,\nSection Rouge develops, finances, produces and distributes cross-media\nproducts for the worldwide marketplace. Image In Media's integrated approach\ncombines services and expertise in production management, marketing and\ndistribution of products on all formats. Image offers to its growing network\nof independent content producers and distribution ...