RE:Insidertrade''Trade: Sale of 800,000 shares at a price of $0.26 per share, WHY?!''
Because he put it in the most recent 500K PP receiving 1/2 warrant. Hope that hepls.
SoMedia Networks arranges $500,000 private placement
2015-03-31 18:13 ET - News Release
Mr. George Fleming reports
SOMEDIA PRIVATE PLACEMENT
SoMedia Networks Inc. has arranged a non-brokered brokered private placement of two million units at a price of 25 cents per unit for gross proceeds of $500,000. The financing is fully subscribed and will close upon receipt of TSX Venture Exchange approval. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one share of SoMedia at an exercise price of 30 cents per Share for a period of two years from the date of issuance. In connection with the private placement, the company will issue units as finders' fees in the amount of 8 per cent of the total number of shares subscribed for by persons introduced to the company by the finder. Each finder's unit consists of one common share and one-half of share purchase warrant, with each whole finder's warrant exercisable for two years from the date of issuance at a price of 30 cents per share.
Completion of the private placement remains subject to the approval of the TSX Venture Exchange. All securities issued under the private placement will have a four-month statutory hold period. The proceeds of the private placement will be used for general working capital purposes.