Knightscove Media Corp. to Issue Shares to Ocean Point Advisors as Part of Settlement Agreement
01 Março 2011 - 2:57PM
Marketwired
Knightscove Media Corp. (TSX VENTURE: KC.A)(TSX VENTURE: KC.B)
("Knightscove"or the "Company") is pleased to announce that they
will be releasing 100,000 Subordinate Voting Shares to Ocean Point
Advisors as per their settlement agreement dated January 2011 and
referenced in a press release previously posted February 24th 2011.
The stock shall be issued at a deemed price per share of $0.12.
In addition to the 100,000 Subordinate Voting Shares issued to
Ocean Point Advisors, Knightscove is releasing 166,667 Subordinate
Voting Shares to outside legal counsel who have agreed to accept
stock in lieu of cash. Again, this stock shall be issued at a
deemed price per share of $0.12.
The entire amount of stock being issued in the shares for debt
transaction (the "Shares for Debt Transaction") is 266,667
Subordinate Voting Shares. Knightscove is completing the Shares for
Debt Transaction in part to conserve cash to support recent
undertakings which Knightscove has recently announced and which it
believes will enhance shareholder value.
The Shares for Debt Transactions remain subject to the approval
of the TSX Venture Exchange and all subordinate voting shares
issuable thereunder shall be subject to a statutory hold
period.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release or the
information contained herein.
Contacts: Knightscove Media Corp. Leif Bristow President and CEO
416-444-7900 x222
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