Liquid Media Announces Closing of USD$6.0 Million Registered Direct Offering of Common Shares
March 22 2021 - 4:30PM
Liquid Media Group Ltd. (the “Company”, “Liquid Media” or “Liquid”)
(Nasdaq: YVR), today announced that it has closed its previously
announced registered direct offering of 1,791,045 of its common
shares, at a purchase price of USD$3.35 per share.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
The gross proceeds from the offering were
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 were 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 was 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 was filed with the SEC and is 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, 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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