CD-ROM content company, ITC Learning Corp, has completed a $1m private placement in Mentor Networks Inc. Nova Scotia based Mentor develops and distributes multimedia courseware for corporate North America. For its investment, ITC gets an 8% stake in Mentor with an option to acquire an additional 12% through the exercise of warrants. ITC is currently the exclusive distributor of Mentor products in the US. Separately, Mentor announced that the Nova Scotia Business Capital Corp has provided it with an additional $690,000 of financing, half as equity funding and half in the form of a loan. Mentor’s product offerings include the Microsoft Office Suite of PC Skills training products and Professional Skills training products in the areas of customer service, telesales, collections, leadership training and human resources.
