News - SoMedia Networks Inc. Closes Private Placement of SpeSoMedia Networks Inc. Closes Private Placement of Special Warrants BW SoMedia Networks Inc. Closes Private Placement of Special Warrants NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia--(BUSINESS WIRE)--May 21, 2015-- SoMedia Networks Inc. (TSX-V:VID) ("SoMedia" or the "Company"), pioneer of scalable video production solutions, announces that it has completed its previously announced brokered private placement (the "Offering") for gross proceeds of $860,000, through the issuance of 3,440,000 special warrants (the "Special Warrants") at a price of $0.25 per Special Warrant. Euro Pacific Canada Inc. ("Euro Pacific"), as lead agent, and Maison Placements Canada Inc. (together, the "Agents") acted as agents in connection with the Offering. "This financing and our relationship with Euro Pacific are big steps forward in the evolution of SoMedia," stated George Fleming, SoMedia's Founder and Co-CEO. "It's difficult for early stage companies to attract institutional ownership. We believe our positioning as the only company focused on the scalability of video production plus the explosion in demand for video marketing and advertising content has put us in the right place at the right time to begin attracting the attention of institutional and strategic investors. We're excited to be working with Euro Pacific and hope to continue expanding our institutional shareholder base." Each Special Warrant entitles the holder thereof to acquire at any time after May 20, 2015 (the "Closing Date"), for no additional consideration, one unit of SoMedia (a "Unit"), with each Unit comprised of one common share of SoMedia (a "Common Share") and one-half of one Common Share purchase warrant of SoMedia (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$0.35 per Common Share for a period of 24 months following the Closing Date. All unexercised Special Warrants will be deemed to be exercised, without payment of additional consideration or further action, on the earlier of: (i) the third business day following the day upon which SoMedia obtains a receipt for a final prospectus (the "Final Prospectus") qualifying the distribution of the Common Shares and Warrants issuable upon (a) exercise of the Special Warrants, and (b) exercise ofthe Broker Warrants (as defined below) (collectively, the "Underlying Securities") from the securities regulatory authority in each jurisdiction where the Final Prospectus is filed; and (ii) the date that is four months and one day following the Closing Date. It is intended that the Final Prospectus will be filed in Ontario, Alberta and British Columbia (the "Qualifying Jurisdictions"). SoMedia will use its commercially-reasonable efforts to file and obtain a receipt for the Final Prospectus in the Qualifying Jurisdictions as soon as reasonably practicable. If SoMedia fails to obtain a receipt for the Final Prospectus by the date that is 60 days from the Closing Date, the holders of Special Warrants resident in the Qualifying Jurisdictions will be entitled to receive 1.085 Common Shares (instead of one Common Share) and 0.5 of a Warrant on the deemed exercise of the Special Warrants.