MONTREAL – Malofilm Communications is set to raise C$8.7 million ($6.4 million) with the issuing of 1.2 million shares at the price of C$7.25 ($5.30) per special warrant. The special warrants issue is expected to close Dec. 17.
“It’s mainly for our two areas of focus, the development of content in TV, feature films and multimedia, and acquiring distribution rights,” said Stephen Takacsy, senior vice president and chief financial officer at Malofilm. “We have a great team now and it’s a matter of growing the various business segments.”
Over the past year, Montreal-based Malofilm has made several acquisitions, purchasing animation producer Desclez Prods., feature production house Filmline Intl. and Los Angeles-based international distrib and producer Image Organization.