NURUN and Quebecor World Reach Definitive Agreement
MONTREAL, QUEBEC--JULY 31, 2000--NURUN Inc. and Quebecor World confirmed today
that the two companies have reached a definitive five-year
strategic alliance agreement. The three principal elements of the
alliance include joint marketing initiatives; a preferred supplier
arrangement, which includes a US$40 million revenue commitment
from Quebecor World; and a $20 million cash injection into NURUN,
effective immediately.
Based on the principle of a long-term commitment, NURUN has agreed
to issue 500,000 units to Quebecor World, each unit consisting of
one share and one 5-year warrant convertible into a common share
of NURUN, at an issue price and exercise price, respectively, of
CDN$40.00. The exercising of warrant rights and certain elements
of the agreement are subject to the approval of both parties
within a year from now.
NURUN Inc.
NURUN Inc. (TSE: IFN), a subsidiary of the Quebecor Inc. group, is
a company providing e-commerce, Web integration and automated
publishing solutions for corporate and public sector clients in
North America, Europe and select locations around the world.
NURUN employs more than 1,200 professionals in its various offices
in Montreal, Quebec City, Toronto, Ottawa, Seattle, New York,
Boston, Chicago, Paris, Milan, Santiago and Paignton. |
