10:26:29 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Gener8 Media Corp
Symbol GNR
Shares Issued 46,066,469
Close 2014-09-22 C$ 0.77
Market Cap C$ 35,471,181
Recent Sedar Documents

Gener8 closes $871,125 tranche of placement

2014-09-23 09:46 ET - News Release

Mr. Rory Armes reports

GENER8 ANNOUNCES CLOSING OF THE FIRST TRANCHE OF BROKERED PRIVATE PLACEMENT

Gener8 Media Corp. has closed the first tranche of its brokered private placement. The financing, previously announced in a press release dated Sept. 16, 2014, consists of the issuance of 1,161,500 units at a price of 75 cents per unit for gross proceeds of $871,125. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $1 until March 22, 2016.

In connection with the financing, the company paid Canaccord Genuity Corp. aggregate cash commissions of approximately $60,978.75, issued an aggregate of 81,305 agents' warrants, plus 19,362 common shares and 9,681 agents' warrants representing the corporate finance fee. Each agent warrant is exercisable into one common share at a price of $1 per common share until March 22, 2016.

Proceeds from the financing are expected to be used for general working capital expenditures across all business units of the company including Cumul8, Reelhouse and the 3-D studio. All securities issued in connection with the first tranche are subject to a four-month resale restriction expiring Jan. 23, 2015.

We seek Safe Harbor.

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