Wonderfilm Announces Private Placement
VANCOUVER, BC / ACCESSWIRE / March 28, 2019 / The Wonderfilm Media Corporation (TSXV: WNDR), (OTC PINK: WDRFF), (FRA: 25Y), (“Wonderfilm” or the “Company”), a technology, media and entertainment company, announced today that it has arranged a non-brokered private placement for gross proceeds of up to $750,000 (the “Offering”). The Offering will consist of the sale of up to 2,142,857 units (the “Units”) at a price of $0.35 per Unit. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable into one additional common share of the Company for a period of 2 years from the date of issue at a price of $0.50 per share.
The Company is proposing to pay a finder’s fee to finders that assist in procuring the proceeds of the Offering. Such Fee shall consist of a cash commission equal to 7% of the total subscription proceeds raised from persons introduced to the Company by the finder, and warrants (the “Finder’s Warrants”) equal to 7% of the number of Units subscribed for by persons introduced to the Company by the finder. Each two Finder’s Warrants will be exercisable to purchase one common share at $0.50 per share for a period of 24 months from closing.
Proceeds of the placement will be used for general working capital.
All securities issued under the Offering will be subject to a 4 month and one day hold period.
The Offering is subject to the acceptance of the TSX Venture Exchange.
ABOUT WONDERFILM MEDIA
Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with production offices in Los Angeles, corporate offices in Vancouver BC and its Asian distribution office in Seoul, South Korea. Founded by 4 producers, Kirk Shaw, Daniel Grodnik, Jeff Bowler and Bret Saxon, the Company’s core business is producing market-driven independent feature films and quality television series for multi-platform global exploitation. Current productions include the feature films, Moose (starring John Travolta) and Primal (starring Nicolas Cage). Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm’s length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
Neither the TSX Venture Exchange Inc. (“Exchange”) nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as “believe,” “expect,” “target,” “anticipate,” “forecast,” “intend,” “plan,” “projects,” “seek,” “will,” “may” or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm’s control and Wonderfilm’s actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors.
Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further details, please see the Company’s documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
For further information, please contact:
The Wonderfilm Media Corporation,
Chief Executive Officer
Telephone: (604) 638-4890
SOURCE: The Wonderfilm Media Corporation