TORONTO, Sept. 19 /CNW/ - Multimedia Nova Corporation (TSX-V: MNC.A) is
pleased to announce the completion of its previously announced non-brokered
private placement. Multimedia issued 580,000 Class A subordinated voting
shares at a price of $0.50 per Class A subordinated voting share, for gross
proceeds of $290,000.
All securities issued pursuant to the private placement are subject to a
four (4) month hold period. 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,
as well as to invest in expanding and improving its publications in the
Greater Toronto Area.
Multimedia Nova Corporation is an integrated communications enterprise
based in Toronto, Ontario. It currently has 5,869,052 Class A subordinated
voting shares outstanding.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURANCY OF THIS RELEASE.
For further information:
For further information: please contact Lori Abittan, President and
Chief Executive Officer or Mr. Joe Mastrogiacomo, Chief Financial Officer at
(416) 785-4300, fax (416) 785-4303