/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE
SECURITIES DESCRIBED HEREIN./
TORONTO, Sept. 8 /CNW/ - Knightscove Media Corp. (TSXV: 'KC.A' and
'KC.B') ("Knightscove" or the "Company") is pleased to announce that it has
closed the first tranche of a larger private placement offering of 400,000
units (each a "Unit") at a price of C$0.25 per Unit for aggregate gross
proceeds of C$100,000. Knightscove expects to complete the larger private
placement of up to C$650,000 in gross proceeds on a "rolling" basis over the
next 30 days. The private placement remains subject to the final approval of
the TSX Venture Exchange.
Each Unit consists of one subordinate voting share of Knightscove ("KC
Share") and one subordinate voting share purchase warrant ("Warrant"), each
Warrant entitling the holder to acquire one KC Share upon payment of C$0.25
per share for a term of two years. The securities issued in connection with
the first tranche were purchased by an accredited investor with the Company
acted on its own behalf, therefore no commission or broker fee was paid in
association with this closing. The Units are subject to a hold period
extending until November 24, 2008.
Knightscove additionally announces that it has issued 370,000 subordinate
voting shares to GC Global Capital for the performance of financial advisory
services. These subordinate voting shares have a deemed value of $.23 per
share. In addition, Knightscove as agreed to issue to John Lane 128,571
subordinate voting shares at a price of $0.35 per share in lieu of consulting
fees related to services performed by Mr. Lane in assisting the Company review
various financial options in the United States. The subordinate voting shares
issued under these agreements is in lieu of $130,100 in debts.
Upon issuance of the Units and subordinate voting shares for service,
Knightscove will have 10,646,475 subordinate voting shares and 9,747,904
multiple voting shares outstanding. Knightscove intends to continue its
financing endeavours to support various corporate and film library acquisition
opportunities. Additional information regarding the business of Knightscove
may be found filed on SEDAR at www.sedar.com.
These securities have not been registered under the U.S. Securities Act
of 1933, as amended, and may not be offered, sold or resold in the United
States or to a U.S. person absent registration or an applicable exemption from
the registration requirements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release or the
information contained herein.
For further information:
For further information: Spinnaker Capital Markets Inc., Ali Mahdavi,
Partner, (416) 962-3300; Knightscove Media Corp., Leif Bristow, President and
CEO, (416) 444-7900 x222; or Annette Grot, VP Finance, (416) 444-7900 x231