SoMedia Networks (TSXV:VID) lists on the TSX Venture Exchange - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, July 3, 2013 - SoMedia Networks (TSXV:VID) lists on
the TSXVenture Exchange. The company completed an IPO offering of 3.8 million
shares at a price of $0.85, raising gross proceeds of $3.25 million, with
Canaccord Genuity acting as agent for the offering. Canaccord also placed
approximately 132,000 shares as part of a greenshoe over-allotment, for which it
has 30 days to either buy the shares in the marketplace or require SoMedia to
issue additional shares.
InvestmentPitch.com has produced a "video news alert" which provides a brief
overview of SoMedia. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "SoMedia" in the search box.
SoMedia provides resale, white-label, and on demand video production services
across North America to web marketers, digital agencies, corporate brands and
media.
SoMedia has two distinct video production technology platforms, a Scalable Video
Platform and an Automated Video Platform.
With the ScalableVideo platform, SoMedia's partners simply log into a reseller
portal and order videos from a standardized, fixed price selection of video
types and lengths, usually consisting of 30, 60 or 90 seconds. Once an order is
placed, creative input gathering and scheduling is either provided by the
partner or pushed to a client through a simple and easy to understand online
interface. The finished video is available for review and download within 14
days of the original shoot. SoMedia sells the standard scalable business videos
at wholesale pricing from $450 to $1,499 depending on length, which its
resellers typically mark up by another 50% to 100%.
The Automated Video Platform is a cloud-based technology that enables users to
produce high quality online videos through an automated process. The Automated
Platform offers video templates for a wide range of different uses such as
product videos, sales and promotion videos, real estate videos, employee
profiles, video classifieds, directory videos, and how- to videos.
"According to a recent survey of SoMedia partners, 79 per cent believe that
offering video services will give them a competitive advantage in the
marketplace," said Colin Osing, Vice President of Marketing for SoMedia
Networks.
The shares are currently trading at the IPO price of $0.85 and with 25.7 million
shares outstanding, the company is capitalized at $21.8 million.
For more information about SoMedia, please visit the company's website at
www.SoMedia.net or contact the company's president and CEO, George Fleming at
604-683-5510 or by email george.fleming(at)SoMedia.net.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing short three minute videos based on significant news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 04.07.2013 - 01:40 Uhr
Sprache: Deutsch
News-ID 275637
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