Telesystem Ltd announces secondary offering of Subordinate Voting Shares of Stingray Digital Group Inc.

Source: NewsWire

MONTREAL, June 20, 2016 /CNW Telbec/ - Telesystem Ltd ("Telesystem") announces that it has entered into an agreement with National Bank Financial Inc. and GMP Securities L.P. for a secondary offering by Telesystem on a private placement bought deal basis of 4,310,965 subordinate voting shares ("Subordinate Voting Shares") of Stingray Digital Group Inc. ("Stingray") at a price of$7.15 per share for gross proceeds of $30,823,399.75 (the "Offering").

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