TORONTO, ONTARIO--(Marketwire - Oct. 1, 2009) - Innovium Media Properties Corp. (TSX VENTURE:IN)(FRANKFURT:IH7) ("Innovium" or the "Company") reports that it has closed a private placement of $1,272,500 in Trust. This financing consists of 12,725,000 units ("Units") being issued at $0.10 per Unit, with each Unit consisting of one common share and one half of a common share purchase warrant ("Warrant"). Each Warrant entitles its holder to purchase one common share at a price of $0.10 for a period of eighteen (18) months from the date of issuance.
It should be noted that this financing is an arms-length transaction and is subject to TSX Venture Exchange approval. The units to be issued pursuant to this financing will be subject to a four-month hold period expiring February 1, 2010. As a result of this financing the number of issued and outstanding shares will increase to 100,987,214.
About Innovium Media Properties Corp.
Innovium's venture investment portfolio consists of a substantial interest in Seed Media Group LLC, ("Seed") is a private media and technology company focused on the sciences. Seed's award winning brands include Seed(R) (print and digital magazine) and ScienceBlogs(R). Innovium (www.innovium.ca) trades under the symbol IN on the TSX Venture Exchange ("TSX - V") and IH7 on the Frankfurt Stock Exchange ("FWB").
About Seed Media Group LLC
Seed Media Group (www.seedmediagroup.com) is a global media and technology company with a concentration on blogging, visualization, software, and digital media. Its efforts are tied together by a passion for science and an advocacy for science literacy around the world. Seed is headquartered in New York City. Seed's Founder and CEO is Adam Bly.
About ScienceBlogs, LLC
ScienceBlogs (www.scienceblogs.com, www.scienceblogs.de & www.scienceblogs.com.br), 70% owned by Seed Media Group, is the largest science-related blog network. This "discussion" in over 100 blogs in three languages spans the realm of science, covering fields from neuroscience to the environment.
For additional information contact: innovium@innovium.ca
We seek safe harbour
FOR FURTHER INFORMATION PLEASE CONTACT:
Innovium Media Properties Corp. Neil Raymond Chairman and CEO (514) 281-0481 ceo@innovium.caor
Innovium Media Properties Corp. Jamie Macintosh President and COO (416) 862-7444 coo@innovium.caor
Innovium Media Properties Corp. Julio DiGirolamo CFO and Corporate Secretary (416) 862-7444 cfo@innovium.ca
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
© Marketwire
