Business
Mood Media intends to amend Terms of Convertible Debentures
Mood Media intends to amend Terms of Convertible Debentures
About this update from Maximus Metals, Inc.
[{"type":"text","content":"\n\n\n\n Aug. 17, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTORONTO, Aug. 17 /CNW/ - Mood Media Corporation (formerly Fluid Music Canada, Inc.) (TSX:MM) ("Mood Media") announced today that it has come to an agreement with holders of more than 50% of the outstanding principal amount of its 10% convertible unsecured subordinated debentures to due November 26, 2012 (the "Convertible Debentures") to amend the terms of such Convertible Debentures to provide that the previously announced increase in the conversion rate of the Convertible Debentures if the Convertible Debentures are not redeemed within 75 days following the closing of the acquisition of Mood Media Group SA by the Corporation, will now occur if the Convertible Debentures are not redeemed within 120 days following the closing of the acquisition of Mood Media Group SA (the "Amendment"). If the Convertible Debentures are not redeemed during this 120 day time period, the conversion rate of the Convertible Debentures would increase to 679 common shares per C$1,100 of principal amount of Convertible Debentures and up to an additional 9,508,886 common shares of Mood Media may be issuable upon the conversion of the Convertible Debentures. Mood Media expects documentation for the Amendment to be completed today and will be made available on SEDAR forthwith, and in any event, in accordance with applicable securities laws.\n\nAbout Mood Media Corporation\n\nMood Media is a leading provider of in-store media solutions to both businesses and individual consumers. The company uses a mix of music, visual and scent media to help brands communicate with consumers and drive incremental sales at the point-of-purchase.\nTrusonic, Mood Media's wholly owned subsidiary, is a leader in Internet-delivered background music and messaging to the retail and hospitality sector...