Business
Evolutra Transaction Update
LONGUEUIL, QC, Sept. 17 /CNW Telbec/ - Section Rouge Media inc. (the "Company" or "SRM") has been...
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"\n\n\n\nLONGUEUIL, QC, Sept. 17 /CNW Telbec/ - Section Rouge Media inc.\n(the "Company" or "SRM") has been notified by Corporation Evolutra / Evolutra\nCorporation ("Evolutra") that it will not proceed with a previously announced\nproposed reverse takeover transaction (please refer to the press release dated\nSeptember 28, 2007). Evolutra indicated it had made this decision after a\nnumber of conditions precedent to the transaction had not been met by SRM,\nincluding the threshold valuation of SRM as determined by an independent third\nparty valuator. The parties have also determined that current market\nconditions are not favourable for a transaction of this nature at the moment.\n\n\nOn June 25, 2008, the President and CEO of the Company, Richard\nDesmarais, resigned and Jean-Pierre Rancourt, the Vice-President, agreed to\nact in Desmarais' place on an interim basis. Rancourt ordered immediately the\ncompletion of an evaluation of SRM by Wise, Blackman, which was delivered to\nSRM and Evolutra on August 29, 2008.\n\n\nThe Company intends to continue its normal activities. The Company\npublishes periodicals relating to family life (Grossesse, Bebe and Junior),\nlegal matters (Photo Police) and agriculture (Ma revue de machineries\nagricoles).\n\n\nSRM in currently approaching the TSX-V for the resumption of trading of\nits common shares on TSX-V.\n\n\nPlease note that the Company will be holding its Annual Meeting in\nLongueuil Friday, October 17, 2008 at 11H00 a.m.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved the\n\n\ncontents of this release.\n\n\n%SEDAR: 00008697EF\n\n\n","length":1707,"tagName":"div"}]