Stockgroup Information Systems (OTCBB:SWEB; TSX VENTURE:SWB), a local financial media company specializing in user-generated content and collaboration technologies has just completed a $4.5 million USD private placement by issuing 3,333,334 common shares at US$1.34 per share. The private placement was led by Jennings Capital Inc. with the proceeds going towards acquisitions and general operating capital.
It will be interesting to watch and see if any of the smaller properties in the financial media game are going to fall prey to Stockgroup with their newly acquired war chest....