Metamedia Capital Corp.

Metamedia Capital Corp.

August 04, 2005 17:14 ET

Metamedia Capital Corp.: Corporate Update

CALGARY, ALBERTA--(CCNMatthews - Aug. 4, 2005) - Metamedia Capital Corp. (TSX VENTURE:MME) ("Metamedia" or the "Company") announced today that it has completed a closing of its previously announced private placement. The TSX Venture Exchange has accepted the final documentation for filing. As of July 20, 2005 $340,000 had been placed with 10 placees. These shares are subject to a hold period expiring November 21, 2005.

Certain investors, including overseas investors are still evaluating the Company's previously announced projects and have expressed an interest in investing; however they were not able to complete their evaluation prior to the expiry of the allotted time period for the completion of the private placement. Accordingly, subject to regulatory approval, the Company anticipates additional financings in the near future on terms comparable to the just closed private placement. Due to annual August vacations in Europe, Management anticipates that these may be completed some time in October.

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