Science & Technology
Science and Technology
Science and Technology
Tue, December 1, 2009
Mon, November 30, 2009 
TORONTO, ONTARIO--(Marketwire - Nov. 30, 2009) - Innovium Media Properties Corp. ("Innovium")(TSX VENTURE:IN)(FRANKFURT:IH7) is a public company with one investment.
- Innovium owns roughly 40% of Seed Media Group LLC ("Seed").
- Innovium trades on the TSX Venture Exchange and the Frankfurt Stock Exchange.
Seed Media Group LLC is a private company based in New York City.
- Seed is headed by its Founder, Adam Bly.
- Seed's goal is to be a dominant participant in the science information and technology sector.
- Seed's global brand was built on the success of SEED magazine (print and online).
- Seed's growth is provided by the following 3 distinct initiatives:
Seed Digital Media - ScienceBlogs, LLC is the world's largest science discussion.
- Reaching over two million unique visitors per month.
- Science Blogs is owned by Seed and Hubert Burda Media.
- Blogs are in English, German and Portuguese.
Visualization is the dynamic and interactive graphic representation of information.
- Develops software that is used by organizations to make their data more understandable and marketable.
- Headed by Ben Fry, co-creator of Processing 1.0 software.
SEED Magazine - "Science is Culture" is an award-winning magazine that has printed 22 issues and also publishes online.
- The magazine has created a significant global brand and continues its mission of advancing global science literacy.
Innovium reports that it has received an additional $250,000 as a second closing of its previously announced private placement and it has received TSX Venture Exchange approval on the original $1,272,500. Approximately $1.1 million of the net proceeds will be used for investing in Seed Media Group and the balance will be used for general working capital purposes. The financing resulted in an aggregate of 15,225,000 common share units being issued at $0.10 per unit, each unit consisting of one common share and one half of a common share purchase warrant. A total of 7,612,500 new warrants will be issued and each warrant is exercisable at $0.10 per share until March 31, 2011.
It should be noted that the units issued pursuant to this financing are subject to a four-month hold period expiring February 1, 2010. As a result of this financing the number of issued and outstanding common shares now stands at 103,487,214.
For additional information contact visit:
Innovium: [ www.innovium.ca ]; Seed: [ www.seedmediagroup.com ]; ScienceBlogs: [ www.scienceblogs.com ], [ www.scienceblogs.de ], and [ www.scienceblogs.com.br ]; Visualization: [ www.seedvisualization.com ]; and, SEED Magazine: [ www.seedmagazine.com ]
Or email us at: [ innovium@innovium.ca ]
We seek safe harbour.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
