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    Home»Technology»ARHT Media Closes Second and Final Tranche of Private Placement Financing

    ARHT Media Closes Second and Final Tranche of Private Placement Financing

    Technology By Brian JohnsonMar 7, 2015No Comments5 Mins Read
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    TORONTO, ONTARIO–(Marketwired – March 6, 2015) –

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    ARHT Media Inc. (the “Company”) (“ARHT”) (TSX VENTURE:ART)(OTCQB:ARHTF), creators of digital human holograms called HumaGrams, is pleased to announce the closing of the second and final tranche of its previously-announced non-brokered private placement financing by issuing 2,500,000 units at a price of $0.40 per unit (the “Units”), for aggregate gross proceeds of $1,000,000 (the “Offering”). The total gross proceeds of the financing (tranches 1 and 2) were $2,069,000.

    Each Unit is comprised of one common share (a “Share”) and one-half of one common share purchase warrant. Each whole warrant (a “Warrant”) will entitle the holder thereof to purchase one additional Share (a “Warrant Share”) at an exercise price of $0.60 per Warrant Share for a period of two years from the date of closing of the Offering. If at any time after four months and one day from the closing date the common shares of ARHT trade at $0.75 per common share or higher (on a volume weighted adjusted basis) for a period of 20 consecutive days, the Company will have the right to accelerate the expiry date of the Warrants to a date that is 30 days after the Company issues a news release announcing that it has elected to exercise this acceleration right.

    No finder’s fees were payable in connection with the closing of the second tranche. The securities issued in connection with the second tranche are subject to statutory resale restrictions which expire on July 6, 2015. Closing of the Offering is subject to receipt of regulatory approval, including final TSX Venture Exchange approval.

    The proceeds from the Offering are expected to be used for general working capital purposes and to help finance potential acquisitions.

    About ARHT Media

    ARHT Media Inc. creates HumaGrams™, the most believable and interactive human holograms. HumaGrams™ are generated using patent-pending Augmented Reality Holographic Technology (ARHT™), which is a scalable, repeatable and transportable form of 3D without the use of special glasses. This unique platform makes it possible for people to engage with HumaGrams™, opening up a wide range of applications from interactive retail displays, tradeshow booths, presentations, live shows and concerts. The various applications can be integrated into multiple forms of proximity and mobile marketing tactics to connect with an audience, drive sales efforts and create memorable experiences.

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    ARHT Media Inc. was co-founded in 2012, by Rene Bharti (Chairman), and entertainer Paul Anka (Chairman, Board of Advisors). The company is supported by a diverse and seasoned Management team spearheaded by its CEO Paul Duffy, a global entrepreneur and creator of the Digital Human Experience in online, mobile and holographic communications. ARHT team brings decades of experience from fields including entertainment, technology, marketing and finance. Advisors to the company include the likes of Larry King, Jason Bateman, Richard “Skip” Bronson, Michael Bublé, Carlos Slim, Irving Azoff and Kevin O’Leary.

    ARHT Media trades under the symbol ART on the Toronto Venture Stock Exchange and the OTCQB Exchange under the symbol ARHTF.

    For more information, please visit www.arhtmedia.com or contact the investor relations group at info@arhtmedia.com.

    Connect With ARHT On Social Media:

    Twitter: http://www.twitter.com/ARHTmedia

    Facebook: http://www.facebook.com/ARHTmediainc

    LinkedIn: http://www.linkedin.com/company/arht-media-inc-

    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering or the use of proceeds of the Offering. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

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    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    Marilia Bento
    Managing Director – Strategic Development
    mbento@arhtmedia.com
    1-800-490-9210

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