Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: Spark who wrote (13520)	5/9/2000 11:18:00 PM
From: ajs	Respond to of 19297

NCPP... New Cinema/Omni Asset Sale Amplification and Clarification of May 8th Press Release TORONTO, May 9 /PRNewswire/ -- New Cinema Partners Inc. (OTC Bulletin Board: NCPPE - news), in response to shareholder enquiries regarding the press release of May 8th, 2000, wishes to amplify, and clarify some terms of the transaction. i) Although the exact ratio of Omni dividend stock to New Cinema Partners shareholders has not been set, both parties involved tentatively estimate that the dividend will be one (1) Omni share for each ten (10) New Cinema Partners shares as is set forth in the original Letter of Intent ii) For New Cinema shareholders to receive the Omni share dividend they must be shareholders of record of New Cinema shares on or before June 1, 2000 (the "record date"). As mentioned in the release of May 8, 2000, Omni Productions and Entertainment Group Inc. plans to file requisite documents with the Ontario Securities Commission and would then in turn make application to the Canadian Venture Exchange (CDNX) to become full reporting, publicly trading company subsequent to the transaction with New Cinema Partners. The pricing of the Omni issue on the CDNX would be determined by, among other things, the complete valuation of Omni based upon their capitalization, share structure and other factors including but not limited to those dictated and prescribed by a Certified Business Valuator, the Ontario Securities Commission and the Canadian Venture Exchange. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Act''). In particular, when used in the proceeding, discussion, the words ``plan,'' ``confident that,'' ``believe,'' ``expect,'' or ``intend to,'' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to safe harbour created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any forward-looking statements. This transaction may be subject to Ontario Securities Commission approval. SOURCE: New Cinema Partners Inc.