Multivision Communications Corp. Closes $600,000 Non-Brokered Private Placement

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, Jan. 20, 2012 /CNW/ - Multivision Communications Corp. (TSXV: MTV) (the "Company") is pleased to announce that, further to its news releases of December 2, 2011 and December 29, 2011, it has closed a non-brokered private placement (the "Private Placement") of 4 million units ("Units") at a price of $0.15 per Unit for aggregate gross proceeds of $600,000. Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company a ("Warrant Share") at an exercise price of $0.20 per Warrant Share until January 16, 2014, subject to earlier expiry in the event (the "Trigger Event") that, following the expiry of the four month hold period, the volume-weighted average price of the Company's common shares on the TSX Venture Exchange over a period of twenty consecutive trading days exceeds $0.25. On the occurrence of a Trigger Event, the Company may give notice to holders to accelerate the expiry of the Warrants to a date that is not less than 30 calendar days after such notice is sent to the holders. The securities issued pursuant to the Private Placement are subject to a four-month hold period that expires on May 16, 2012.

The proceeds of the Private Placement will be used for working capital.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE Multivision Communications Corp.

For further information:

Sandra Buschau, Corporate Secretary
(604) 322-5020     sandy@ipm.bc.ca

Organization Profile

Multivision Communications Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890