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Network Media Group Announces Private Placement of Shares
Network Media Group Announces Private Placement of Shares Canada NewsWire VANCOU...
About this update from Network Media Group Inc.
[{"type":"text","content":"\n\n\n\nNetwork Media Group Announces 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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 16, 2017\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, Nov. 16, 2017 /CNW/ - Network Media Group Inc. (TSXV:NTE.V) and Network Entertainment Inc. (the \"Company\"), announces that it will proceed with a non-brokered private placement of up to 13,333,333 shares of the Company (the \"Shares\") at $0.15 per Share for gross proceeds of up to $2,000,000 \"the \"Offering\").\n\nClosing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange (the \"Exchange\").  All 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\nAbout Network Media Group/Network Entertainment Inc.Network is focused on becoming one of the world's leading developers and producers of entertainment properti...