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

Knightscove Media Corp.

September 10, 2010 11:33 ET

Knightscove Media Corp. Announces Receipt of TSX Venture Exchange Approval to Complete a $675,000.00 Private Placement Offering of Units

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2010) - Knightscove Media Corp. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) ("Knightscove") is pleased to announce that it has received TSX Venture Exchange approval to complete a private placement offering of 6,750,000 units (each a "Unit") at a price of CDN$0.10 per Unit for aggregate proceeds of CDN$675,000.00 (the "Offering"). Knightscove previously announced a private placement offering of 6,500,000 units in a press release dated September 3, 2010, but an additional 250,000 units funds have been raised and approved by the TSX Venture Exchange.

Each Unit consists of one subordinate voting share ("KC Share") of Knightscove and one-half of one subordinate voting share purchase warrant ("Warrant"), each Warrant entitling the holder to acquire one KC Share at an exercise price of CDN$0.15 per KC Share for a term of one year. The securities issued were purchased by accredited investors. The private placement was non-brokered and thus no broker fee or commission was paid in association with the closing. The Units are subject to a hold period extending until January 4, 2011. 

Knightscove intends to use the proceeds of the Offering to expand current operations by focusing on its DVD, Video-On-Demand and library acquisition opportunities. 

Knightscove has 37,470,768 subordinate voting shares and 10,581,819 multiple voting shares issued and outstanding following completion of the Offering. 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