NEWS MAX ONE - Crypto site news of MAX ONE CLUB logo NEWS MAX ONE - Crypto site news of MAX ONE CLUB logo
Seeking Alpha 2021-10-27 11:43:30

Network Media receives strategic investment from Hive Blockchain and U.S. Global Investors

Network Media (OTCPK:NETWF) received a strategic investment from HIVE Blockchain Technologies (NASDAQ:HIVE) and U.S. Global Investors (NASDAQ:GROW) and closed its earlier announced non-brokered private placement. In the offering, the company issued 13.8M shares at $0.15/share for gross proceeds of $2.08M; net proceeds will be used for ancillary business opportunities, operations, research, and development of NFT content initiatives, and working capital requirements. The securities issued are subject to a statutory hold period, expiring Feb.28, 2022. "Network's creative leadership and reputation as producers of premium content for global audiences, alongside their access to valued intellectual property, presented the perfect opportunity to forge a strategic relationship to embrace the NFT revolution together," Chairman Frank Holmes commented. Network has granted incentive stock options to certain directors, officers, employees, and consultants for the right to purchase 690K shares; options are exercisable at $0.16/share for 5 years. HIVE shares trading 5% down premarket while GROW shares are 3% higher.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.