Mood Media Corporation
TSX : MM
AIM : MM

Mood Media Corporation

April 26, 2012 18:00 ET

Mood Media Corporation Announces $27.5 Million Bought Deal Private Placement

TORONTO, ONTARIO--(Marketwire - April 26, 2012) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER IN THE UNITED STATES OF THE SECURITIES DESCRIBED HEREIN

Mood Media Corporation (TSX:MM)(AIM:MM) ("Mood Media" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Octagon Capital Corporation and including Byron Capital Markets (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase 6,675,000 common shares ("Common Shares") of the Company on a bought deal private placement basis at a price of $4.12 per Common Share. The Underwriters shall also have the option, exercisable prior to the closing of the offering, to purchase up to an additional 2,427,000 Common Shares at the price under the offering to cover over-allotments, if any.

The Company will pay the Underwriters a cash commission equal to 5.0% of the gross proceeds of the offering, excluding certain of the proceeds identified by the Company for up to $12,500,000.

The offering is scheduled to close on or about May 17, 2012 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

The net proceeds of the Offering will be used for acquisition purposes, failing which general corporate purposes.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

About Mood Media

Mood Media Corporation (TSX:MM)(AIM:MM), named Canada's fastest growing company by PROFIT Magazine is a leading in-store media specialist that uses a mix of music, visual and scent media to help its clients communicate with consumers with a view to driving incremental sales at the point-of-purchase.

Operating through its two principal divisions, In-Store Media and Retail Point-of-Purchase, Mood Media Corporation works with over 470,000 commercial locations in over 40 countries throughout North America, Europe, Asia and Australia. Through its subsidiaries Mood Media, Muzak, and Mood Entertainment, Mood Media Corporation's products and services reach 100 million people every day in a broad client base including more than 850 U.S. and international brands in diverse market sectors that include: retail, from fashion to financial services; hospitality, from hotels to health spas; and food retail, including restaurants, bars, quick-serve and fast casual dining.

For further information about Mood Media, please visit www.moodmedia.com.

Caution Regarding Forward-Looking Information

This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations although not all forward-looking statements contain these identifying words. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the risk factors identified in the Risk Factors section of the Company's management discussion and analysis dated March 5, 2012 and the risk factors identified in the annual information form of Mood Media dated March 30, 2012, both of which are available on www.sedar.com. There can be no assurance that the Company will be able to identify or complete acquisitions and there can no assurance of the terms of such acquisitions. If the Company is unable to identify or subsequently complete acquisitions, the proceeds of the offering may be used for general corporate purposes. While the Company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Historical performance may not be indicative of future performance. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. Forward-looking statements are given only as at the date hereof and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

Application will be made to the London Stock Exchange for admission of the common shares issued pursuant to the private placement, which will rank pari passu in all respects with the existing common shares, to trading on AIM. It is expected that admission to AIM will become effective and that dealings in the new common shares on AIM will become effective on or about May 25, 2012.

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

Contact Information

  • Mood Media Corporation
    Lorne Abony
    CEO & Chairman
    416 510 2800