TORONTO – Score Media Inc. said today it will soon make an offering of class A subordinate voting shares to support its TV, internet, mobile and satellite radio business units.
The offering is being underwritten by Genuity Capital Markets and the company did not release the amount it hopes to raise saying, “(f)inal pricing and the size of the offering will be determined immediately prior to the filing of the final prospectus,” in a release.
The net proceeds of this offering will be used to finance upgrades to existing studio facilities to improve its high definition TV capabilities, to provide funds for marketing, application development, programming and working capital to Score Poker, Score Mobile, and Hardcore Sports Radio and for general corporate purposes.
"We believe that this is a good time to secure additional financing to support our television and our new business initiatives. This financing follows the strong financial performance recently announced in the first quarter of fiscal 2006," said John Levy, chairman and CEO of Score Media Inc.
