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NETWORK MEDIA ANNOUNCES OFFERING OF CONVERTIBLE DEBENTURES AND DEBT SETTLEMENT
NETWORK MEDIA ANNOUNCES OFFERING OF CONVERTIBLE DEBENTURES AND DEBT SETTLEMENT Canada N...
About this update from Network Media Group Inc.
[{"type":"text","content":"\n\n\n\n NETWORK MEDIA ANNOUNCES OFFERING OF CONVERTIBLE DEBENTURES AND DEBT SETTLEMENT\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Sept. 26, 2025\n \n\n /CNW/ -\n \n Network Media Group Inc\n \n\n .\n \n (TSXV: NTE) (OTC: NETWF) (\"Network\" or the \"Company\") announces that it intends to undertake a non-brokered private placement offering of convertible debentures (the \"Debentures\") to raise gross proceeds of\n \n CAD$650,000\n \n (the \"Offering\"). The principal sum of the Debentures will bear interest at the rate of 12% per annum and will mature on the date that is twenty-four (24) months from the date of issuance.\n \n\n The principal amount of the Debentures may, at the election of the holders at any time prior to Maturity Date, be converted into shares of the Company (the \"Conversion Shares\") at a conversion price of\n \n CAD$0.50\n \n per Conversion Share. The Debentures and Conversion Shares are collectively referred to herein as the \"Securities\".\n \n\n The Offering is subject to certain conditions including, but not limited to, receipt of TSX Venture Exchange approval. The Debentures and Conversion Shares issuable upon the conversion thereof, will be subject to a statutory hold period of four months and one day from the date of issuance. Closing of the Offering is expected to be on or before\n \n September 30, 2025\n \n .\n \n\n The Debentures will be offered pursuant to one or more prospectus exemptions set out under applicable securities laws and instruments, including National Instrument 45-106 –\n \n Prospectus Exemptions.\n \n\n\n The Company is also pleased to announce that it has entered into an agreement to settle\n \n CAD$350,000\n \n of outstanding debt (the \"Debt\") owing to certain directors (\"Debtor\") of the Company. The Company will issue 1,150,000 common shares (the \"Settlement Shares\") to the Debtor at a deemed price per share of\n \n CAD$0.15\n \n to settle the Debt.\n \n\n The Settlement Shares will be issued as a non-arm's length transaction as the Deb...