Devine Entertainment Debt to be Restructured; Private Investor Group Acquires Royal Bank of Canada Debt.Business & Entertainment Editors TORONTO, Ontario--(BUSINESS WIRE)--Feb. 19, 2002 Devine Entertainment Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DVN DVN Digital Video Network (Internet2) DVN Digital Value Network DVN Diploma in Veterinary Nursing DVN Device Number ) today reported that a group of private investors has reached an agreement with the Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. to acquire all indebtedness owing by the Company to the Royal Bank of Canada. The Company had been in negotiations with the Royal Bank of Canada to restructure its indebtedness for several months and now expects to enter into definitive agreements with the group of private investors to restructure the indebtedness in the next few weeks. Devine Entertainment Corporation is a five-time Emmy Award-winning global producer and distributor of children's and family entertainment. The Composers', Inventors', and Artists' Specials are currently broadcast in over 50 countries. Headquartered in Toronto, The Company's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , trading symbol Trading symbol See: Ticker symbol DVN, and the Company is listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on exchange under DVNNF. The Company's corporate website is www.devine-ent.com, and its award-winning interactive website is www.devinetime.com. The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein. This press release may contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future performance of Devine Entertainment Corporation. Forward-looking statements, specifically those concerning future performance and the achievement of operating profitability are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the Company's limited operating history and fluctuations in revenues; market acceptance of the Company's products and services; competition within the film and entertainment industry and the introduction of new entrants and/or products in the Company's markets; adverse changes in governmental regulations and policies affecting the film and entertainment industry; product development risks and risks of technological change; the risk of unanticipated expenses; and other risks and uncertainties all as described in the disclosure documents filed with securities regulatory authorities in accordance with applicable securities laws. |
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