Metamedia Capital Corp.
TSX VENTURE : MME

Metamedia Capital Corp.

June 14, 2010 21:33 ET

Metamedia Announces Consolidation and Name Change and Announces Private Placement

CALGARY, ALBERTA--(Marketwire - June 14, 2010) - Metamedia Capital Corp. (TSX VENTURE:MME) announces that it intends to seek approval for a consolidation of its common shares on a one (new) for ten (old) shares basis and a consequent change of name of the Company. Post-consolidation, the Company will have approximately 2,856,499 shares issued and outstanding. These transactions remain subject to regulatory approval.

The Company also announces a private placement of up to 18,000,000 units at a price of $0.05 per unit, each unit consisting of one post-consolidation share of the Company and one warrant to buy one additional post-consolidation share of the Company for $0.10. Proceeds of the private placement will be used to eliminate current working capital deficit (approximately $400,000) and to provide the Company with working capital to enable it to move forward and find a new business. Finder's fee(s) will be paid pursant to TSX policies and regulations. The Private Placement is subject to regulatory approval.

ON BEHALF OF THE BOARD OF DIRECTORS

Harry Diamantopoulos
President & CEO

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Contact Information

  • Metamedia Capital Corp.
    Harry Diamantopoulos
    President & CEO
    (403) 710-2222