- Gamelancer Media Corp. (GMNG) has announced a non-brokered private placement
- The private placement involves issuing up to C$15,000,000 of secured debenture units of the company at $1,000 per debenture unit
- Each debenture unit will be made up of a $1,000 principal amount of 12-per-cent-secured debentures of the company and 100 common-share purchase warrants
- The debentures shall bear interest at an annual rate of 12 per cent
- Gamelancer Media Corp. is a media and entertainment company
- Gamelancer Media Corp. was up 7.14 per cent, trading at $0.075 at 1:56 pm ET
Gamelancer Media Corp. (GMNG) has announced a non-brokered private placement of up to C$15,000,000 of secured debenture units.
Each debenture unit will be made up of a $1,000 principal amount of 12-per-cent-secured debenture and 100 common-share purchase warrants of the company. Each warrant will be exercisable for one additional common share at an exercise price of $0.07 for 36 months from the closing of the offering.
The debentures shall mature 60 months from the closing of the offering.
The debentures shall bear interest at an annual rate of 12 per cent, payable on the last business day of each calendar quarter, with the first 18 months of accrued interest payable on the maturity date.
All securities issued regarding the offering will be subject to a four-month hold period from the date of issue.
The net proceeds of the offering will be used to make purchase price payments in connection with the previous acquisition of Gamelancer, Inc., as well as for general working capital purposes.
Gamelancer Media Corp. is a media and entertainment company providing creative and curated content to the world’s largest brands and media agencies with broadcast distribution across its owned and operated channels.
Gamelancer Media Corp. was up 7.14 per cent, trading at $0.075 at 1:56 pm ET.