WOWMF - WOW! Unlimited Media launches non-brokered private placement of unsecured convertible debentures

WOW! Unlimited Media (WOWMF) has launched non-brokered private placement offering of $4.5M of 9.5% unsecured subordinated convertible debentures. The company intends to offer up to 4,500 Debentures at $1,000 per $1,000 principal amount of Debentures. Interest will be payable in equal quarterly payments on March 31, June 30, September 30 and December 31 in each year commencing December 31, 2020. The company anticipates that the closing of the first tranche of the offering will take place in mid-November 2020, with the closing of the Second Tranche to be completed immediately following the maturity of the Existing Debentures. The net proceeds from both the tranches will be used to pay down the company’s Existing outstanding Debentures of $4.3M and for general working capital purposes.

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WOW! Unlimited Media launches non-brokered private placement of unsecured convertible debentures