Telescene Film Group entered into an engagement with Griffiths McBurney & Partners to underwrite a private placement of primary and secondary warrants at a price of $19 each. The maximum gross proceeds for both categories is just over $37.5 million, with each warrant entitling the holder to one Class b subordinate voting share, at no additional cost.

The net financing will be used for the production of the Twentieth Television series Student Bodies, The Hunger, an erotic horror anthology for Showtime, and recently announced Fox Family Channel series Misguided Angels and Big Wolf on Campus. Four two-hour movies for the Action Adventure Network are also planned.

Telescene recently began production on Are You Game, a half-hour hybrid kids’ game show/doc series pilot for Nickelodeon.

The June 11 placement includes the sale of no more than 215,000 secondary warrants by Telescene’s senior management.