TransactionsMultiplied Media Closes $5 Million Private PlacementPublished: 03/30/2010 By Tom Koutoulakis, Sean Maniaci, Lawrence D. Wilder On March 26, 2010, Multiplied Media Corporation, a leading provider of mobile local search services, closed a private placement financing agreement with a syndicate of underwriters led by Dundee Securities Corporation and including Stonecap Securities Inc., Clarus Securities Inc., Desjardins Securities Inc. and Mackie Research Capital Corporation. Pursuant to the agreement, the underwriters purchased, on a bought deal private placement basis, 20,000,000 common shares of the Company priced at $0.25 per common share, for total gross proceeds of $5,000,000. The cash fee paid to the Underwriters was seven percent (7%) of the gross proceeds of the Offering, excluding proceeds derived from the president’s list. The Underwriters also received broker warrants entitling the agents to subscribe for up to 1,384,109 common shares at an exercise price equal to $0.25 per common share, for a period of 24 months following the date hereof. Lawrence Wilder (Securities), Tom Koutoulakis (Securities) and Sean Maniaci (Securities) of Cassels Brock & Blackwell LLP acted for the syndicate of underwriters. |