Liquid Media Announces USD$6.0 Million Registered Direct Offering of Common Shares
March 18 2021 - 9:59AM
Liquid Media Group Ltd. (the “Company”, “Liquid Media” or “Liquid”)
(Nasdaq: YVR), today announced that it has entered into definitive
agreements with several institutional investors for the issuance
and sale of an aggregate of 1,791,045 of its common shares, at a
purchase price of USD$3.35 per share, in a registered direct
offering. The closing of the offering is expected to occur on or
about March 22, 2021, subject to the satisfaction of customary
closing conditions.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds from the offering are
expected to be approximately USD$6.0 million. The Company intends
to use the net proceeds from the offering for working capital
purposes, expanding existing businesses or acquiring or investing
in businesses, debt reduction or debt refinancing, capital
expenditures and other general corporate purposes.
The common shares described above are being
offered and sold by the Company in a registered direct offering
pursuant to a “shelf” registration statement on Form F-3
(Registration No. 333-237982), including an accompanying
prospectus, previously filed with the Securities and Exchange
Commission (the “SEC”) and declared effective on May 15, 2020. The
offering of the common shares will be made only by means of a
prospectus supplement that forms a part of the registration
statement. A final prospectus supplement and accompanying
prospectus relating to the registered direct offering will be filed
with the SEC and will be available on the SEC's website located at
http://www.sec.gov. Electronic copies of the prospectus supplement
and the accompanying prospectus may also be obtained by contacting
H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New
York, NY 10022, by phone at (212) 856-5711 or e-mail at
placements@hcwco.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Liquid Media Group
Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is a
business solutions company empowering independent IP creators to
package, finance, deliver and monetize their professional video IP
globally. Liquid’s end-to-end solution will enable professional
video (film/TV & video game) creation, packaging, financing,
delivery & monetization, empowering IP creators to take their
professional content from inception through the entire process to
monetization. Liquid Media’s executive team is comprised of CEO
Ronald W. Thomson (global media business leader), President Charlie
Brezer (serial entrepreneur), Chief Financial Officer and Managing
Director Daniel Cruz (previously of Canaccord Financial), Chairman
Joshua Jackson (actor/producer, television and film), Director
Stephen Jackson (Northland Properties), and Director Nancy Basi
(veteran media and entertainment expert), who each bring decades of
industry expertise and significant passion to advance the Company’s
mission.
Additional information is available at
www.LiquidMediaGroup.co.
Cautionary Note Regarding
Forward-Looking Statements
This news release includes statements containing
certain "forward-looking information" within the meaning of
applicable securities law ("forward-looking statements").
Forward-looking statements are typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate",
"potentially" and similar expressions, or are those, which, by
their nature, refer to future events. These statements should not
be read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those implied by such statements.
Such factors include, but are not limited to, the risk that the
conditions to closing the offering may not be satisfied in a timely
manner or that the offering may not be consummated at all,
developments related to the COVID-19 pandemic, regulatory actions,
market prices, continued availability of capital and financing, and
general economic, market or business conditions and other risks
described in the Company’s filings with the SEC, including under
the heading “Risk Factors” in the Company’s most recently filed
Annual Report on Form 20-F and any other filings with the SEC.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. The Company is under no obligation, and expressly disclaims
any intention or obligation, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
applicable law.
Further information:
Daniel Cruz
Liquid Media Group Ltd.
+1 (416) 489-0092
pg@liquidmediagroup.co
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