Niche social networking site College Today cashes into the corporate world
College Tonight, Inc., the evolution of collegiate social networking, announced today the completion of its merger with Simex Technologies, Inc. As a part of the transaction, before and at closing of the merger, College Tonight raised $1,639,500 in equity capital in private placements to accredited investors.
Over the next several months, as College Tonight’s national “Disorientation” college tour continues, College Tonight will introduce its members to an array of fresh and unique features including mobility. Through this dual online/offline marketing platform, sponsors will have an opportunity to expose their product to what has been called the most difficult to reach and fragmented audience in history
College Tonight is a social networking experience and marketing platform, which is designed to promote actual social interactivity among college students. Due to the mobile nature of the site, the service’s design is also structured for the mobile user, focusing on nightlife events and social opportunities both directly on a student’s campus and within their broader communities. College Tonight’s platform intends to allow advertisers an opportunity to tap into the world of active, outgoing and socially motivated college students - the “trendsetters” and “tastemakers” of society.
Simex issued College Tonight shareholders a total of 2,412,800 shares of Series A Convertible Preferred Stock, which are automatically convertible into approximately 74% of Simex’s common stock upon the filing of certain amendments to Simex’s Certificate of Incorporation. Simex intends to file an amendment to its Certificate of Incorporation to increase its authorized common stock from 50,000,000 to 100,000,000 shares, to effect a one for four reverse split, and to change its name to “College Tonight, Inc.” upon compliance with SEC proxy regulations.
Technically Speaking, this is a niche social networking site cashing in with corporate backing. Read some more on what TC had to say back earlier this month. land for sale
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