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MiMedia Holdings Inc. Announces C$5,000,000 Brokered Private Placement of Convertible Debenture Units
MiMedia Holdings Inc. Announces C$5,000,000 Brokered Private Placement of Convertible Debenture U...
About this update from Mimedia Holdings Inc
[{"type":"text","content":"\n \n \n \n MiMedia Holdings Inc. Announces C$5,000,000 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 Feb. 14, 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 Lead Agent\n \n \") on behalf of a syndicate of agents (collectively with the Lead Agent, the \"\n \n Agents\n \n \"), pursuant to which the Agents have agreed to assist the Company in selling, on a commercially reasonable efforts private placement basis, up to 5,000 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$5,000,000\n \n (the \"\n \n Offering\n \n \").\n \n \n \n \n \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 exercisable to acquire one Subordinate Voting Share at an exercise price of\n \n C$0.65\n \n for a period of 24 months from the closing date of the Offering (the \"\n \n Closing Date\n \n \"). The Convertible Debentures will mature 36 months from the Closing Date and will bear inter...