TORONTO--(BUSINESS WIRE)--June 8, 1999--LaserMedia Communications
Corp. (NASDAQ:LZMCF) (CANADIAN DEALING NETWORK:LMCD.), creator of the
interactive health and fitness website actfit.com and author of the
highly-successful Active Fitness line of CD-ROMs, is proud to announce
that Thomas R. DiBenedetto has joined its Advisory Board.
Mr. DiBenedetto brings to LaserMedia over 25 years of broad
experience in the securities and investment business. Since 1991, he
has been President of Junction Investors Ltd., a firm which
specializes in international finance, providing investment banking
services to companies seeking investments abroad, as well as money
management services for non-U.S. entities. Junction Investors is
currently acting as sponsor of The Caucasus Fund, a proposed Caucasus
regional investment fund which will be partly funded by a U.S.
government entity.
He has been President of Boston International Group, an
investment company, and Olympic Partners, a real estate investment
company, since 1983.
From 1978 to 1982, he was a Vice-President at Allen & Company, a
New York based investment company, and was previously employed by
Salomon Brothers, Inc. and as an Associate in real estate finance with
Morgan Stanley & Co. Inc.
Mr. DiBenedetto is a partner of the Boston Red Sox Baseball Club
and a director of several publicly traded companies. He serves as
trustee of Trinity College and Massachusetts General Hospital. He is a
member of the Center for Business and Government at the John F.
Kennedy School of Government at Harvard University. In 1971 he
graduated from Trinity College with an honors degree in economics, and
received his MBA from the University of Pennsylvania Wharton School of
Business in 1993.
In other news, LaserMedia is pleased to announce that as of June
2, 1999, it intends to proceed, through arm's length transactions,
with private placements of a total of 909,721 common shares of the
Corporation at a price of $0.90 per share (totalling CDN$818,750) and
444,035 warrants entitling the subscriber to purchase one common share
at $1.10 up to and including a date two years from the closing of this
transaction. These placements are subject to shareholder and
regulatory approvals. Proceeds are to be used for working capital.
Actfit.com is the Internet's only fully-interactive health and
fitness website.
Log on to actfit.com for all your interactive health
and fitness needs!
Forward-looking statements and comments in this press release are
made pursuant to the safe-harbor provisions of Section 21E of the
Securities Exchange Act of 1934. Such statements relating to, among
other things, the prospects for the company to increase the level of
sales, complete future web sites or complete future acquisitions are
necessarily subject to risks and uncertainties, some of which are
significant in scope and nature, including, but not limited to, the
risks related to the demand for the company's products and/or
services, competition, and availability of capital. The information
herein has not been approved or disapproved by regulatory authorities.
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CONTACT: RT Equity Inc.
Jack Wall or Vince Balatbat, 416/967-4779, 888/821-2800
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMED TELECOMMUNICATIONS MANAGEMENT CHANGES
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