/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
TSX VENTURE EXCHANGE: MVD
TORONTO, Aug. 12, 2011 /CNW/ - Megaview Digital Entertainment Corp. (TSX-V: MVD) (the "Company") announces that it will be proceeding with the previously announced consolidation of its common shares on a ten (old) for one (new) basis. The consolidation was approved by shareholders at an annual and special meeting held on July 11, 2011. Upon the consolidation, any outstanding stock options and warrants will, in accordance with their terms, be exercisable into post-consolidation common shares of the Company at appropriately adjusted exercise prices.
The Company expects that the effective date for the consolidation will be Friday, August 12, 2011. The Company will continue to use the stock symbol "MVD" for trading in the common shares on the TSX Venture Exchange ("TSX-V"). After the consolidation becomes effective, each shareholder of the Company will hold one post-consolidation share for every ten preconsolidation shares, with the result that after the consolidation the Company will have outstanding approximately 10,223,950 common shares.
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Mega View's expectations are the risks detailed herein and from time to time in the filings made by the Company with securities regulators.