Metamedia Capital Corp.

Metamedia Capital Corp.

May 30, 2005 09:00 ET

Metamedia: Private Placement

CALGARY, ALBERTA--(CCNMatthews - May 30, 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 share.

The proceeds of the private placement are to be used to implement the Cyber-Television Network (the "CTN") announced in the news release dated May 27, 2005 and for working capital purposes. The CTN will be implemented pursuant to a licensing agreement between the Company and CSC Global Technologies Inc. ("CSC") under which the Company will issue as consideration to CSC 200,000 common shares of the Company with a 4 month hold period.

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 concession will be offered brokers with respect to subscriptions by their clients, in the event that such subscriptions are accepted.

The closing of the private placement is anticipated to occur on or before June 29, 2005.

For further information regarding Metamedia or Metohos Business Magazine, please see contact information below.

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

Contact Information

  • Metamedia Capital Corp.
    Mr. Alexandros Kostis
    (403) 333-3000