Business
Non-brokered Private Placement of up to 3,000,000 Units and New Member of the Board of Directors
Non-brokered Private Placement of up to 3,000,000 Units and New Member of the Board of Directors.
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n\nTSX Venture: EMM\n\n\nVANCOUVER, Dec. 1 /CNW/ - eMedia Networks (the \"Corporation\") is pleased\nto announce that it intends to complete a non-brokered private placement of up\nto 3,000,000 units, the private placement is expected to close on December 21,\n2006. Each unit will be comprised of one common share in the capital of the\nCorporation (\"Common Share\") and one-half of one common share purchase warrant\n(\"Warrant\") and each unit will be sold for $0.12. Each whole warrant will\nentitle the holder to acquire one common share at any time until the first\nanniversary of the closing date at a price of $0.21.\n\n\nThe proceeds of the private placement will be used to repay a portion of\nthe Corporation's equipment debt, to repay short term loans and debentures as\nwell as long term debt obligations, to increase the Corporation's working\ncapital. Mr. David Mears has agreed to join the Board of Directors of the\nCorporation, effective upon closing of the private placement.\n\n\nStripe Mobile Inc. (\"Stripe\") intends to subscribe for all of the units\nin this private placement. Stripe is controlled by Chinook Financial Ltd.\nwhich, in turn, is controlled by David Mears.\n\n\nStripe Mobile Inc., based in Calgary, Canada, has launched an exciting\nnew mobile content service across North America. The company offers ringtones,\nwallpapers and their own new specialty called \"phony messages\". The company is\nconnected to all major U.S. and Canadian carriers providing it with access to\nnearly 200 million mobile subscribers. Under the tag line \"What's your\nStripe?\" the company promotes and develops a wide range of new mobile\npersonalization services.\n\n\nThe private placement is subject to TSX Venture Exchange acceptance.\n\n\nAbout eMedia Networks\n\n\neMedia Networks is Canada's leading supplier of licensed background (or\n\"in store\") music played in public spaces. eMedia's client base includes many\nnational retail and restaurant chains including Roots Canada, Le Chateau, Body\nShop and International Clothiers. Background music consists of CD quality\nartist recordings that are played in retail and restaurant establishments and\nother public venues to enhance and define a client's brand image and as a\nsales enhancement tool. The Company has annual recurring revenue of about\n1.2 million dollars.\n\n\nOn behalf...