03:22:34 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



SoMedia Networks Inc
Symbol VID
Shares Issued 47,861,866
Close 2015-05-21 C$ 0.275
Market Cap C$ 13,162,013
Recent Sedar Documents

SoMedia special warrant private placement

2015-05-22 16:18 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced May 7, 2015.

Securities:  3.44 million special warrants

Price:  25 cents

Terms:  Each special warrant is convertible, for no additional consideration, into one unit comprising one common share and one-half of one share purchase warrant.

If the issuer fails to obtain a receipt for a final prospectus qualifying the distribution of any unissued unit shares and unit warrants in British Columbia, Alberta and Ontario within 60 days of closing date, any unconverted special warrant held by a holder in those jurisdictions will thereafter entitle the holder to receive, on subsequent conversion of the special warrant, 1.085 unit shares (instead of one unit share) and 0.5 unit warrant (no additional penalty warrants).

Any unconverted special warrants are convertible by the holder at any time, but are deemed to be converted on the earlier of the date that is: three business days after the receipt for the prospectus; and four months and one day after the closing date for the offering. Unit warrants will expire on the date that is 24 months after the closing date for the offering.

Warrants:  1.72 million share purchase warrants to purchase 1.72 million shares

Initial exercise price:  35 cents

Term to expiry:  two years

Placees:  14

Agents' fees:  Euro Pacific Canada $19,800 and 6 per cent special warrants; Maison Placements Canada Inc. $31,800 and 6 per cent special warrants

Each agents' special warrant is convertible for no additional consideration into one warrant at any time. Each warrant is exercisable at a price of 25 cents to acquire one unit (one unit share and 0.5 unit warrant) for a period of 24 months following closing. Each unit warrant is exercisable at a price of 35 cents to acquire one unit warrant share for a period of 24 months after closing. The agents' special warrants are to be qualified under the prospectus noted above and will be deemed to be converted on the same terms.

Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

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