VANCOUVER, Dec. 28, 2017 /CNW/ - Network Media Group
Inc. (TSX:NTE.V) and Network Entertainment Inc.
("Network" or "the Company") announces that it
has closed a non-brokered private placement of 4,000,000 common
shares of the Company (the "Shares") at $0.15 per Share for gross proceeds of
$600,000 (the "Offering") on
December 28, 2017.
All Shares issued in connection with the Offering will be
subject to a statutory hold period of four months plus a day from
the date of issuance in accordance with the policies of Exchange
and applicable securities legislation which will expire on
April 29, 2018. The net
proceeds of the Offering will be used for general working
capital.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described in
this news release in the United
States. Such securities have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and, accordingly, may not be offered or sold within
the United States, or to or for
the account or benefit of persons in the
United States or "U.S. Persons", as such term is defined in
Regulation S promulgated under the U.S. Securities Act, unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
ON BEHALF OF THE BOARD OF DIRECTORS OF NETWORK MEDIA GROUP
INC.:
"Derik A.
Murray"
Derik A.
Murray
Chief Executive Officer and Director
About Network Media Group/Network Entertainment
Inc.
Network is focused on becoming one of the world's
leading developers and producers of entertainment properties for
the global marketplace and its worldwide audience. It is the parent
company of Network Entertainment Inc., an established television
and film production company with an award-winning international
reputation. Its productions include the Academy Award shortlisted
feature documentary Facing Ali, as well as documentaries on
the lives of Bruce Lee, Steve McQueen, Evel
Knievel, Johnny Cash,
Chris Farley (which set all time
ratings records for Spike), JFK Jr. and, most recently,
Heath Ledger. The Company recently
received the prestigious Realscreen Award in 2017 for Non-Fiction –
History/Biographical Series for its documentary series
Facing. Network's past projects and current productions can
be viewed at www.networkentertainment.ca. For further
information concerning this press release, please email
info@networkentertainment.ca
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING
INFORMATION
Except for historical information contained
herein, this news release contains forward-looking statements that
involve risks and uncertainties, including the Company not
obtaining required TSX Venture Exchange approval of the Transaction
and the Transaction not being completed as proposed or at all.
These statements are necessarily based upon management's
perceptions, beliefs, assumptions and expectations, as well as a
number of specific factors and assumptions that, while considered
reasonable by management of the Company as of the date of such
statements, are inherently subject to significant uncertainties and
contingencies that could result in the forward-looking information
ultimately, perhaps materially, being incorrect. All forward
looking information in this news release involve known and unknown
risks, uncertainties and other factors that are beyond the control
of the Company and may cause the actual results, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward looking information. 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.
SOURCE Network Media Group Inc.