Coscient Group Discusses a $7.5 Million Financing Project.MONTREAL--(BUSINESS WIRE)--March 19, 1996--Coscient Group Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended , ME:CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. .A) announces that it is currently discussing a $7.5 million financing project with major financial institutions. As part of this financing, the latter would acquire convertible preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . In addition, an option to acquire up to 150,000 shares would be granted to the investors for a period of five years. This financing will be subject to certain conditions, a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review and approval by regulatory authorities. The proceeds from this financing will be earmarked mainly for the Corporation's working capital and will enable it to join forces with key financial partners. "The growth avenues available to our Group are numerous, and our development projects fully justify our seizing the financing opportunities which are offered to us," states Yves Moquin, Chairman of the Board and Chief Executive Officer of Coscient Group. Profile Coscient Group Inc. is among the leading producers and distributors of television programs and feature films in Canada and is the leader in Quebec. The Group is involved in all areas of audiovisual and film production, notably variety shows, animation series, TV magazines, quiz shows, documentaries, drama series, youth programs, made-for-TV movies and feature films. Coscient Group has several operating subsidiaries, including four in the production sector: Coscient Inc., S.D.A. Productions Limited, Allegro Films Inc. and Cactus Animation Inc. The Group is also a shareholder in Cite-Amerique Inc. The Class A Multiple Voting Shares of the Group are listed on the Montreal and Vancouver stock exchanges Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). (ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CST.A). CONTACT: COSCIENT GROUP INC. Yves Moquin, hie/Executive Officer 514/284-2525 COSCIENT GROUP INC. Daniel Proulx Vice-President Finance and Administration 514/284-2525 |
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