April  16, 2010 (FinancialWire) — China Networks International Holdings Ltd (OTC: CNWHF), a television advertising operator based in China, has completed a financing, raising $11 million through the sale of senior secured convertible debentures with a conversion price of $1.14.

Upon completion of financing, the outstanding capital of the company will consist of 41,019,993 common shares,16,000,000 preferred shares and a total debt of $11 million.

Chardan Capital Markets acted as lead placement agent and Euro Pacific acted as co-placement agent on this transaction.

China Networks offers domestic and international advertisers access to viewers and stations across its member network throughout China, and the net proceeds from the transaction will be used to fulfill the remaining payment obligations to its Kunming joint venture partners and for general working capital purposes.

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