Knightscove Media Corp.
TSX VENTURE : KC.A
TSX VENTURE : KC.B

Knightscove Media Corp.

June 16, 2010 16:26 ET

Knightscove Media Corp. Closes First Tranche of Private Placement Financing

TORONTO, ONTARIO--(Marketwire - June 16, 2010) - Knightscove Media Corp. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) ("Knightscove") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of units ("Units") of Knightscove (see press release dated June 14, 2010) for gross proceeds in the amount of $622,606.30 through the issuance of 6,226,063 Units at a price of $0.10 per Unit (the "Offering Price"). Each Unit consists of one subordinate voting share ("KC Share") of Knightscove and one-half of one subordinate voting share purchase warrant ("Warrant"), each whole Warrant entitling the holder to acquire one KC Share at an exercise price of CDN$0.15 per KC Share until June 16, 2011. Knightscove intends to use the net proceeds for working capital purposes. 

Knightscove has paid Uxbridge Capital Funding Inc., an Ontario exempt market dealer, a cash commission in the amount of $5,250.00.

The KC Shares, the Warrants and the KC Shares issuable upon the exercise of the Warrants are subject to resale restrictions that expire on October 17, 2010. Closing of the Offering is subject to receipt of regulatory approval, including final TSX Venture Exchange approval.

Knightscove has 28,989,768 subordinate voting shares and 10,581,819 multiple voting shares issued and outstanding. 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.

Contact Information

  • Knightscove Media Corp.
    Leif Bristow
    President and CEO
    (416) 444-7900 x222