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Brighter Minds Media Raises $3 Million in Growth Capital
May 1, 2006 - Toronto: Hargan Ventures is pleased to announce that its portfolio company, Brighter Minds Media, has raised $3 million in growth capital through the TSX (Toronto Stock Exchange) Venture Capital Pool Company program.
Concurrently with the closing of a qualifying transaction with Roadrunner Capital Corporation, Brighter Minds completed a public offering of units in the amount of $3.0 million at a price of $0.35 per unit. Each unit consists of one common share of Brighter Minds and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of Brighter Minds for a period of 18 months at a price per share of $0.45. Westwind Partners Inc. and Wellington West Capital Markets Inc. acted as agents for the concurrent public offering. As a result of the public offering, Brighter Minds Media now trades under the symbol “BRI.V” on the TSX Venture Exchange.
The Capital Pool Company program is a unique listing vehicle offered exclusively by TSX Venture Exchange. The program represents an attractive alternative to private equity financings for growth and development-stage companies. More information about the CPC program can be found at the TSX web site.
Brighter Minds Media intends to use the proceeds of the financing to continue investing in establishing strong distribution relationships with leading mass and specialty retailers in North America and internationally. Management believes this will allow the Company to continue to accelerate its growth in the remainder of 2006 and beyond. The Company is currently leveraging its expertise in the development of Edutainment products, its brand relationships and its distribution network to establish a foothold in the fast-growing Casual Gaming and DVD Games categories to compliment the Company’s existing software and book product lines. In the third quarter of 2006, Brighter Minds Media Inc. will launch its initial titles for the DVD Games market. Importantly, the Company will also seek to increase the quantity and breadth of brand licenses for its products. Brighter Minds has recently signed agreements with leading owners of children’s content including Universal Studios, Marvel Entertainment and Cartoon Network properties.
About Brighter Minds Media
Brighter Minds Media Inc. is proud to offer a fun, innovative line of products including software, books, workbooks, flashcards and interactive DVD Games. Brighter Minds Media Inc. prides itself on the creation, publication, and distribution of multimedia materials for the entire family. Brighter Minds Media Inc. is publicly traded on the TSX Venture Exchange (TSX: BRI.V) and is a Hargan Ventures (www.harganvc.com) company. More information about Brighter Minds Media Inc. can be found at www.brightermindsmedia.com.
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