Softwave Media Exchanges Completes Reverse Merger, Hits Stock Market
July 31, 2006 at 6:06 AM (PT)
Advertising time trader SOFTWAVE MEDIA EXCHANGE has completed its reverse merger with EDGEMONT RESOURCES COMPANY, which makes SOFTWAVE a publicly traded company as SWMX, INC. The stock is now available for trading on the OTC BULLETIN BOARD under the symbol SWMX OB.
As part of the merger deal, SWMX has also completed the closing of a private placement of 4 million shares at $3/share, raising $12 million. 5,206,700 shares of EDGEMONT were redeemed and cancelled, leaving 1.9 million shares of SWMX common stock eligible for resale in the market.
SWMX operates as a marketplace for trading radio and TV time, including integrated campaign and management tools.