Metamedia Capital Corp.

Metamedia Capital Corp.

September 23, 2005 16:59 ET

Metamedia Capital Corp. Announces Private Placement

CALGARY, ALBERTA--(CCNMatthews - Sept. 23, 2005) - Metamedia Capital Corp. (TSX VENTURE:MME) ("Metamedia" or the "Company") announced today that it will raise up to $2.5 million by way of a non-brokered private placement of up to 2.5 million common shares of the Company priced at $1.00 per common share.

The proceeds of the private placement are to be used to implement the Internet Protocol based Television service announced in the news release dated May 27, 2005 and for working capital purposes. The private placement will be offered to accredited investors in certain Canadian jurisdictions, including British Columbia, Alberta, Saskatchewan and Ontario, and to some offshore investors, excluding investors in the United States. The directors and management of the Company may participate in the offering. A selling commission may be offered to brokers should the Company accept such subscriptions from such brokers.

The closing of the private placement is anticipated to occur on or before October 7, 2005.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Metamedia or Metohos Business Magazine
    Mr. Alexandros Kostis
    (403) 333-3000