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Mediagrif Interactive Technologies Inc Announces $30 Million Private Placement Of Common Shares

Thursday, 22 Nov 2012 03:26pm EST 

Mediagrif Interactive Technologies Inc announced that it has entered into a bought deal agreement with National Bank Financial Inc. and a syndicate of underwriters (collectively the Underwriters) to issue, by way of a private placement, 1.7 million common shares (the Shares) of Mediagrif from treasury at a price of $17.50 per Share for gross proceeds of approximately $30 million (the Offering). The Underwriters will be granted an option, exercisable not later than 48 hours prior to the closing of the Offering, to sell additional Shares for aggregate proceeds of up to an additional $5 million. The Offering is expected to close on or about December 6, 2012 and is subject to certain closing conditions, including the receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange. Mediagrif intends to use the net proceeds from the Offering to reduce its indebtedness and for general corporate purposes. 

Company Quote

-0.2 -1.04%
27 Aug 2014