Media Ventures Corp.

December 14, 2007 14:56 ET

Media Ventures Corp. Announces Closing of Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2007) - Media Ventures Corp. ("Media Ventures") is pleased to announce that it has completed its initial public offering of 8,625,000 common shares at the price of $0.20 per common share for total gross proceeds of $1,725,000 and has filed for listing as a Capital Pool Company on the TSX Venture Exchange. Blackmont Capital Inc. acted as agent on the offering. The common shares of Media Ventures are expected to commence trading on the TSX Venture Exchange at the opening of markets on approximately December 19, 2007 under the trading symbol "MED.P".

As a result of the closing of this offering, Media Ventures now has 11,375,000 common shares issued and outstanding (2,750,000 of which are subject to escrow restrictions), 865,000 reserved for issuance upon the exercise of options granted to Blackmont Capital Inc. and their sub-agents, and 1,375,000 common shares reserved for issuance upon the exercise of stock options. Media Ventures' board of directors and management team is comprised of the following individuals: Julio DiGirolamo (Director and President), Viraf Kapadia (Director, Chief Financial Officer and Corporate Secretary), Ernie Eves (Director), Peter Proszanski (Director) and Robert Richardson (Director).

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Media Ventures Corp.
    Viraf Kapadia
    Chief Financial Officer
    (416) 252-2889