Network Media Group Announces Upsizing of Previously Announced Private Placement
VANCOUVER, BC, Oct. 4, 2021 /CNW/ - Network Media Group Inc. (TSXV: NTE) (OTCMKTS: NETWF) is pleased to announce, further to the Company's news release dated September 30, 2021, an upsizing of its previously announced non-brokered private placement (the "Offering"). The upsized Offering will be for gross proceeds of up to $1,400,000 through the sale of up to 9,333,333 Common Shares of the Company (the "Shares") at a price of $0.15 per share.
In connection with the Offering, the Company may pay finder's fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the "Exchange"). Network intends to use the net proceeds of the Offering primarily for ancillary business opportunities, operations, research and development of NFT content initiatives, and working capital requirements.
The securities issued under the Offering will be subject to a statutory hold period, expiring four months and one day from the date of issuance of such securities. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the Exchange and the applicable securities regulatory authorities.
About Network Entertainment
The Company's most recent productions include PUNK, a four-part series for EPIX with executive producers John Varvatos and Iggy Pop, the feature documentaries I Am Richard Pryor, which premiered at the 2019 SXSW Film Festival, and I Am Patrick Swayze, which premiered at the 2019 San Antonio Film Festival, winning the Festival Grand Prize, and The Age of A.I., a YouTube Originals series hosted and executive produced by Robert Downey Jr.
Among the Company's many accolades, Network was named to the Realscreen Global 100 List, an annual compilation of the best global production companies working in the non-fiction and unscripted visual content industry. Network's work has also been recognized by the Academy Awards, the Emmys, Realscreen Awards, Gemini Awards, Leo Awards, the Los Angeles Film Festival, AFI Docs Film Festival (Silverdocs), San Antonio Film Festival, Seattle International Film Festival, Tribeca Film Festival, SXSW Film Festival, Hawaii International Film Festival, Houston International Film Festival, Vancouver International Film Festival, Banff Television Festival, and the International Film and Television Festival of New York.
Network's broadcast and distribution partners include A&E, AHC, AMC, AppleTV+, Discovery Channel, CBC, CMT, Crave, CTV, Entertainment One, EPIX, Fremantle, HBO Canada, History Channel, iTunes, Lionsgate, National Geographic, NBC Peacock, Paramount Network, Sky, Sundance TV, Thunderbird, TMN, Virgil Entertainment, and YouTube Originals.
Network's offices, production and post production facilities are located in Vancouver and Los Angeles, and the company is represented by ICM Partners.
For additional information on Network Entertainment Inc., visit www.networkentertainment.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-looking Information
SOURCE Network Media Group Inc.
Company Codes: TorontoVE:NTE, OTC-PINK:NETWF
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