Mediagrif Announces Exercise of Underwriters' Option
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LONGUEUIL, QC, Nov. 26, 2012 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. ("Mediagrif") (TSX: MDF), a world-leading provider of e-commerce solutions, announced today that, in connection with its recently-announced private placement of 1.7 million common shares, the underwriters have exercised their option (the "Underwriters' Option") to purchase an additional 286,000 shares at a price of $17.50 per share. Mediagrif will receive gross proceeds of approximately $5.0 million from the exercise of the Underwriters' Option, increasing the total size of the private placement to $35.0 million. Closing of the Underwriters' Option will take place concurrently with the closing of the private placement, both of which are expected to occur on or about December 6, 2012.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) delivers innovative e-commerce solutions to businesses since 1996. Its web platforms enable clients to find, purchase and sell products, exchange information, gain access to business opportunities and manage supply chain collaboration with greater speed and efficiency. The Company provides e-commerce solutions in the fields of electronic components, computer equipment and telecommunications, medical equipment, automotive aftermarket, wine & spirits, diamonds and jewelry, classified ads, supply chain collaboration and government opportunities. Mediagrif has its headquarters in Longueuil and has offices in North America and Asia. For more information, please visit us at www.mediagrif.com or call 1 877 677-9088.
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim 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 required by applicable securities legislation. Unless otherwise indicated, all amounts are in Canadian dollars.
SOURCE MEDIAGRIF INTERACTIVE TECHNOLOGIES INC.