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Innovium Invests US$1.8 Million in Seed Media Group.
- Article from:
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Canadian Corporate News
- Article date:
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April 12, 2006
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Copyright informationCOPYRIGHT 2006 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORONTO, ONTARIO, Apr 12, 2006 (CCNMatthews via COMTEX) -- Innovium Capital Corp. (TSX VENTURE:IN) reports that it has made an additional US$1,750,000 investment in Seed Media Group, LLC, a company based in New York City, for 35% of its Series B preferred shares. Co-investors include The Walnut Group, which was also a significant participant in the Series A preferred share financing of May 2005 in which Innovium invested US$800,000 for 20% of the Series A preferred shares. Both the Series A and Series B preferred shares are convertible into common shares.
Concurrent with the second capital infusion, Jamie Macintosh, President and COO of Innovium, will join Neil Raymond, ...
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