Q-Media receives receipt for final prospectus:
Prospectus qualifies voting shares issued in acquisition of Quebecor
World's North American CD replicating and fulfillment facilities
VANCOUVER, Dec. 15 /CNW/ - Q-Media Services Corporation today announced
that it has received the receipt for its final prospectus in British Columbia
and Ontario to qualify the voting common shares of Q-Media to be issued upon
the exercise of special warrants held by a subsidiary of Quebecor World Inc.
The special warrants with an aggregate value of US $5 million were originally
issued to a subsidiary of Quebecor World Inc. on August 2, 2000 as partial
consideration for the purchase of Quebecor World's North American CD
replicating and fulfillment facilities.
The special warrants will be automatically exercised on December 19, 2000
into 2,078,292 voting common shares with a deemed value of $2.60 per share or
approximately Cdn. $5.4 million. The balance of the warrants, representing a
value of approximately Cdn$2.0 million, will be satisfied through the issuance
of convertible redeemable preferred shares, series A, having a par value of
Cdn. $1.00 each.
About Q-Media Services Corporation
Q-Media Services Corporation operates seven supply chain management
facilities located in Vancouver, Canada; Redmond, Washington; Fife,
Washington; Irvine, California; Austin, Texas; Nashville, Tennessee; and
Westborough, Massachusetts. These facilities provide complete outsourced
supply chain management services to technology customers, such as hardware
manufacturers in the personal computer industry, content publishers, and
software publishers. The company's services include planning and procurement
of materials, production and assembly services, and fulfillment and inventory
management. Shares of Q-Media Services Corporation are traded on the Toronto
Stock Exchange under the symbol (QMS) U.S. S.E.C. exemption: 12g3-2(b) 82-
3761. Further information can be found at the web site: www.qmedia.ca.
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For further information: John Longley, Chief Financial Officer,
(604) 232-5751, shareholder@qmedia.com; Shafiq Jamal, Barr and Wilcox
Group, sjamal@barr-wilcoxgroup.com, (604) 488-1100 |
