TORONTO, Aug. 14 /CNW/ - Multimedia Nova Corporation (TSX-V: MNC.A)
("Multimedia") is pleased to announce completion of its previously announced
proposed non-brokered private placement. Multimedia issued 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 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 (www.multimedianova.com) is an integrated
Canadian communications company in the fields of publishing, multicultural
marketing, printing and distribution and new media.
Multimedia Nova Corporation now has 5,279,052 Class A subordinate voting
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