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TORONTO, ONTARIO -- (Marketwire) -- 02/07/12 -- OutdoorPartner Media Corporation (TSX VENTURE:OPX.H) (the "Company") today announced the filing of its audited financial statements for the year ended February 28, 2011 and unaudited financial statements for the interim three, six and nine month periods ending May 31, 2011, August 31, 2011 and November 30, 2011, respectively, together with all accompanying management's discussion and analysis and related CEO and CFO certifications (collectively, the "Required Documents"). The Required Documents are available on the SEDAR website at www.sedar.com.
The Company's inability to file the Required Documents on time was due to the Company's recent negotiations concerning the acquisition of an internet marketing business together with a recent transition in the executive functions of the CFO while continuing to act on behalf of the Company. Insufficient opportunity was available for the necessary preparation and filing of the Required Documents.
The Company further announces that it is in the process of filing applications with the Ontario Securities Commission, British Columbia Securities Commission, Alberta Securities Commission, Manitoba Securities Commission and the Autorite des marches financiers (collectively, the "Commissions") to revoke the cease trade orders imposed by the Commissions (the "CTOs") due to the non-filing of the Required Documents. The Company is also in the process of filing an application with the TSX Venture Exchange Inc. (the "Exchange") to reinstate trading of the securities of the Company, which securities were suspended by the Exchange on July 8, 2011 pursuant to the issuance of the CTOs.
About the Company
The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to acceptance for filing by the Exchange. The Corporation does not have business operations or assets other than cash, and currently has no written or oral agreements in principle for the acquisition of an asset or business.
Forward-Looking Statements
Certain statements in this release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking statements can be identified by terms such as "could", "expect", "may", "will", "anticipate", "believe", "intend", "estimate", "plan", "potential", "project" or other expressions concerning matters that are not historical facts. Readers are cautioned not to place undue reliance upon any such forward-looking statements.
Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance, achievements or developments of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements, by their nature, are based on certain assumptions regarding expected growth, management's current plans, estimates, projections, beliefs, opinions and business prospects and opportunities (collectively, the "Assumptions"). While the Company considers these Assumptions to be reasonable, based on the information currently available, they may prove to be incorrect.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
OutdoorPartner Media Corporation
Richard McGraw
Chief Executive Officer
(416) 944-2700
(416) 352-5070 (FAX)
OutdoorPartner Media Corporation
78 Scollard Street
Toronto, Ontario M5R 1G2
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