CINAR Confirms Receipt of Additional US$10 Million from Globe-X Management.Business Editors MONTREAL--(BUSINESS WIRE)--June 7, 2000 CINAR Corporation (Nasdaq:CINR)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CIF (1) (Common Intermediate Format) A standard video format used in videoconferencing. CIF formats are defined by their resolution, and standards both above and below the original resolution have been established. The original CIF is also known as Full CIF (FCIF). .A.)(TSE:CIF.B.) confirmed today that it has received an amount of US$10 million from Globe-X Management that had matured on May 31, 2000, leaving an amount of US$66 million to be recovered of the previously disclosed $US122 million in unauthorized investments. The Company had indicated in a news release dated June 5, that it expected to receive these funds by today. "Discussions concerning the balance receivable by CINAR will continue," stated Mr. Barrie Usher, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CINAR. CINAR Corporation (Nasdaq: CINR; and Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. ; CIF.A, CIF.B) is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR's web site is www.cinar.com. This release may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (U.S.). Forward-looking statements are identified by words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. Such forward-looking statements are subject to a number of known or unknown risks and uncertainties. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion