Business
Network Media Announces Closing of Private Placement of Shares
Network Media Announces Closing of Private Placement of Shares Canada NewsWire V...
About this update from Network Media Group Inc.
[{"type":"text","content":"\n\n\n\nNetwork Media Announces Closing of Private Placement of Shares\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\nCanada NewsWire\nVANCOUVER, Dec. 14, 2017\n\n\n\nVANCOUVER, Dec. 14, 2017 /CNW/ - Network Media Group Inc. (TSX: NTE.V) and Network Entertainment Inc. (\"Network\" or \"the Company\"), announces that it has closed a non-brokered private placement of 12,650,001 common shares of the Company (the \"Shares\") at $0.15 per Share for gross proceeds of $1,897,500.15 (the \"Offering\") on December 13, 2017.\n\nAll Shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with the policies of Exchange and applicable securities legislation.  The net proceeds of the Offering will be used to retire indebtedness and for working capital.\n\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or \"U.S. Persons\", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.\n\nON BEHALF OF THE BOARD OF DIRECTORS OF NETWORK MEDIA GROUP INC.\"Derik A. Murray\"\n\nDerik A. MurrayChief Executive Officer and Director\n\nAbout Network Media Group Inc./Network Entertainment Inc.\n\nNetwork Media Group is focused on becoming one of the world's leading developers and producers of entertainment properties for the global marketplace and its worldwide audience. It is the parent company of Network Entertainment Inc., an established television an...