TORONTO, Aug. 5 /CNW/ - Multimedia Nova Corporation (TSX-V: MNC.A) is
pleased to announce a proposed non-brokered private placement of 100,000
Class A subordinate voting shares at a price of $0.50 per Class A subordinate
voting share, for gross proceeds of $50,000.
All securities to be issued pursuant to the private placement will be
subject to a four (4) month hold period. The private placement is conditional
on TSX Venture Exchange approval. No bonus, finder's fee or commission is
being paid in connection with this transaction.
Multimedia will use the net proceeds from the sale of the Class A
subordinate voting shares for general working capital and corporate purposes.
Multimedia Nova Corporation is an integrated communications enterprise
based in Toronto, Ontario. It currently has 5,189,052 Class A subordinate
voting shares outstanding.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Ms. Lori Abittan, President and Chief Executive
Officer; or Mr. Joe Mastrogiacomo, Chief Financial Officer at (416) 785-4300,
fax (416) 785-4303