(WOW.V) Mar. 14, 2019 – WOW! Unlimited Media Inc., a leading next-generation kids and youth entertainment company, proposes to conduct a non-brokered private placement offering of up to 2,272,727 common voting shares and/or variable voting shares at a price of $1.10 per common share for aggregate gross proceeds of up to approximately $2.5 million. The corporation has the option to increase the size of the offering to up to approximately $3.5 million.
The corporation intends to use the net proceeds of the offering for capital expenditures as well as general administrative and working capital purposes.
The offering is expected to close on or about Mar. 22; however, completion is subject to certain conditions, including approval of the TSX Venture Exchange to the listing of the common shares. The common shares will be subject to a statutory hold period ending four months and a day from the date of closing.
WOW! Unlimited Media is focusing on creating top-end content, and by building and partnering with engaging platforms. The corporation’s key assets include: Frederator Networks Inc., which includes the world’s No. 1 digital animation network, Channel Frederator Network, Frederator Studios, an animation production company, as well as video-on-demand channels on digital platforms; and one of Canada’s largest, multi-faceted animation production studios, Mainframe Studios, which produces animated television series and long-form animated features.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.