Network Media Group Announces Non-Brokered Private Placementadmin
Vancouver, British Columbia, December 13, 2013, NETWORK MEDIA GROUP INC. (TSX-V: NTE) (the "Company"), is pleased to announce that it has arranged a non-brokered private placement of up to 5,714,285 common shares (the "Shares") at a price of $0.07 per share, for gross proceeds of up to $400,000.
The net proceeds of the private placement will be used for project development and general working capital. The private placement is subject to regulatory approval. All of the Shares issued pursuant to this offering will have a hold period expiring four months after the closing date.
About Network Entertainment
Network Entertainment Inc. is an established television and film production company with an award-winning international reputation. Network’s recent productions include the Academy Award shortlisted feature documentary Facing Ali, the feature documentary I Am Bruce Lee, which set all time ratings records for Viacom, and Stanley’s Game Seven, the company’s first 3D film. Network’s programming has been showcased at marquee film festivals and by broadcasters throughout North America.
For further information concerning this press release, please email
ON BEHALF OF THE BOARD OF DIRECTORS OF
NETWORK MEDIA GROUP INC.
Chief Executive Officer and Director
Neither 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
Except for historical information contained herein, this news release contains forward-looking
statements that involve risks and uncertainties. Actual results may differ materially. Except as
required pursuant to applicable securities laws, the Company will not update these forward-looking
statements to reflect events or circumstances after the date hereof. More detailed information about
potential factors that could affect financial results is included in the documents filed from time to
time with the Canadian securities regulatory authorities by the Company.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES
Posted: December 14th, 2013 under ACCESSWIRE.