Network Media Group Inc (OTCMKTS:NETWF) Stock Resumes Another Round Of Buying
Network Media Group Inc (OTCMKTS:NETWF) stock continues to trend higher after the recent jump. The stock has soared over 48% over the past month.
Market Action
In Monday’s trading session, NETWF stock ended higher by 2.76% at $0.1490. More than 351K shares have exchanged hands, compared to its average volume of 13K shares. The stock opened at $0.1420 and moved in a range of $0.1400 – 0.1539.
Network Media Group Announces Upsizing of Previously Announced Private Placement
Coretec Group announced, further to the Company’s news release dated September 30, 2021, an upsizing of its previously announced non-brokered private placement (the “Offering”). The upsized Offering will be for gross proceeds of up to $1,400,000 through the sale of up to 9,333,333 Common Shares of the Company (the “Shares”) at a price of $0.15 per share.
In connection with the Offering, the Company may pay finder’s fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the “Exchange”). Network intends to use the net proceeds of the Offering primarily for ancillary business opportunities, operations, research and development of NFT content initiatives, and working capital requirements.
The securities issued under the Offering will be subject to a statutory hold period, expiring four months and one day from the date of issuance of such securities. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the Exchange and the applicable securities regulatory authorities.
