Knightscove Media Corp.

Knightscove Media Corp.

December 09, 2010 15:38 ET

Knightscove Media Corp. Receives TSX Approval for the Issuance of Subordinate Voting Shares to Tonclay Capital Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 9, 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 the issuance of 75,000 subordinate voting shares ("SVS") to Tonclay Capital Inc. ("Tonclay"). In a press release dated October 7, 2010, Knightscove announced that it had reached an agreement with Tonclay to extend the repayment of the $100,000.00 outstanding under the loan agreement entered into between the parties on May 23, 2008 (and subsequently amended on May 31, 2009 and December 17, 2009) to March 23, 2011 (the "Extension").

As compensation for the Extension, Knightscove has agreed to issue an extension bonus equal to $9,000.00 to be paid to Tonclay in the form of 75,000 SVS, with each SVS to be issued at a deemed issue price of $0.12 per SVS.

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 x 222