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MiMedia Announces C$2,500,000 Brokered Private Placement of Convertible Debenture Units
MiMedia Announces C$2,500,000 Brokered Private Placement of Convertible Debenture Units ...
About this update from Mimedia Holdings Inc
[{"type":"text","content":"\n \n \n \n MiMedia Announces C$2,500,000 Brokered Private Placement of Convertible Debenture Units\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n NEW YORK\n \n \n ,\n \n \n July 4, 2023\n \n \n /CNW/ - MiMedia Holdings Inc. (TSXV: MIM) (\"\n \n MiMedia\n \n \" or the \"\n \n Company\n \n \"), announced today that it has entered into an agreement with Canaccord Genuity Corp. (the \"\n \n Agent\n \n \"), pursuant to which the Agent has agreed to assist the Company in selling, on a commercially reasonable efforts private placement basis, up to 2,500 convertible debenture units of the Company (the \"\n \n Debenture Units\n \n \") at a price of\n \n C$1,000\n \n per Debenture Unit, to raise aggregate gross proceeds of up to\n \n C$2,500,000\n \n (the \"\n \n Offering\n \n \").\n \n \n The Debenture Units will be issued on the same terms and conditions as the convertible debenture units previously issued by the Company on\n \n March 14, 2023\n \n , pursuant to which the Company raised aggregate gross proceeds of\n \n $3,400,000\n \n .  For further details concerning the prior issuance of convertible debenture units, see press release of the Company dated\n \n March 14, 2023\n \n .\n \n \n Each Debenture Unit will be comprised of: (i) one\n \n C$1,000\n \n principal amount unsecured convertible debenture of the Company (a \"\n \n Convertible Debenture\n \n \"); and (ii) 1,000 subordinate voting share purchase warrants of the Company (each, a \"\n \n Warrant\n \n \").  The outstanding principal amount of each Convertible Debenture shall be convertible at the option of the holder thereof, at any time prior to maturity, into subordinate voting shares of the Company (the \"\n \n Subordinate Voting Shares\n \n \") at a conversion price of\n \n C$0.50\n \n per Subordinate Voting Share (the \"\n \n Conversion Price\n \n \").  Each Warrant shall be exercisa...