Rare Method Interactive Corp. announces $700,000 Non-brokered Private Placement of Units
May 10 2011 - 1:37PM
PR Newswire (Canada)
CALGARY, May 10 /CNW/ -- CALGARY, May 10 /CNW/ - Rare Method
Interactive Corp. ("Rare Method" or "Corporation") (TSX-V: RAM)
intends to conduct a non-brokered private placement of up to
14,000,000 units of the Corporation ("Unit") at a purchase price of
$0.05 per Unit for gross proceeds of up to $700,000 (the
"Offering"). Each Unit will consist of one common share
("Common Share") and one share purchase warrant ("Warrant") of the
Corporation. Each Warrant will entitle the holder to acquire
one Common Share at a price of $0.10 for a period of five (5) years
from the closing date of the Offering. The Offering is
anticipated to close on or about May 31, 2011. Net proceeds of the
Offering will be used to fund the Corporation's general working
capital and corporate purposes. Upon the closing of the private
placement it is the intention of the Corporation to have Mr. Tom
Short step down from the board and replaced by Chris McLean. The
Offering is subject to acceptance by the TSX Venture Exchange and
all securities issued will be subject to a hold period of four
months from the date of closing of the Offering. About Rare Method
Interactive Corp. Rare Method (TSX-V: RAM) is an integrated agency
that leverages technology to make marketing more effective and
accountable. Rare Method offers a range of marketing services
including marketing strategies, creative, technology development,
media planning & management, campaign analytics, reporting
& optimization. Rare Method has 32 employees in Calgary,
Alberta and Salt Lake City, Utah. 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 release. Readers' Advisory This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any state in the United States in which
such offer, solicitation or sale would be unlawful. The
securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. This press release may contain statements
within the meaning of safe harbour provisions as defined under
United States Securities Laws and Regulations. The above statements
are based on the current expectations and beliefs of the
Corporation's management and are subject to a number of risks and
uncertainties that may cause the actual results to differ
materially from those described above. Forward Looking Information
This news release contains certain "forward-looking information"
within the meaning of such statements under applicable securities
law including statements relating to the Offering.
Forward-looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "potential", "proposed"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. These statements are only
predictions. Forward-looking information is based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking
statements. These factors include, but are not limited to,
the ability of the Corporation to complete the Offering as
currently contemplated or at all. Actual timelines associated
may vary from those anticipated in this news release and such
variations may be material. Industry related risks could
include, but are not limited to, operational risks in exploration,
development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and
safety risks and the uncertainty of estimates and projections of
production, costs and expenses. The Corporation undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change, unless required
by law. The reader is cautioned not to place undue reliance
on this forward-looking information. To view this news release in
HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/May2011/10/c3156.html p
align="justify" Investor & Media Inquiriesbr/ Attn: Martin
Park, CEObr/ Tel: (403) 543-4500br/ a
href="mailto:investors@raremethod.com"investors/aa
href="mailto:investors@raremethod.com"@raremethod.com/a /p
Copyright
Rare Method Interactive Corp (TSXV:RAM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rare Method Interactive Corp (TSXV:RAM)
Historical Stock Chart
From Jul 2023 to Jul 2024