Knightscove Media Corp.

Knightscove Media Corp.

May 19, 2011 10:48 ET

Knightscove Media Corp. Announces Private Placement Financing

TORONTO, ONTARIO--(Marketwire - May 19, 2011) - Knightscove Media Corp. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) ("Knightscove") is pleased to announce that it intends to complete a non-brokered private placement financing of units ("Units") at a price of $0.10 per Unit for gross proceeds of up to CDN$2,000,000.00 (the "Offering"). Each Unit shall consist 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$0.20 per KC Share for a term of one year. Knightscove intends to use the net proceeds to reduce the debt of the Corporation and for working capital purposes. Knightscove may pay finder's fees to eligible persons with respect to the Offering and will be subject to receipt of regulatory approval.

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

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) 222-7900 x222