Osgoode Holdings Inc. announces acquisition of multimedia company; 125,830 common shares outstanding.TORONTO--(BUSINESS WIRE)--April 9, 1997--Osgoode Holdings Inc. ("Osgoode") announced today that it has entered into an agreement for the proposed acquisition of all the issued and outstanding shares of Lasermedia Inc. ("Lasermedia") of Toronto, Ontario (the "Acquisition"). Upon the completion of the Acquisition by Osgoode, Osgoode will acquire all of the issued and outstanding securities of Lasermedia in exchange for an aggregate of up to 13,500,000 common shares of Osgoode and 600,000 Series A Warrants, 200,000 Series B Warrants, 200 Series C Warrants, 100,000 Series D Warrants and 2,700,000 Series E Warrants. Each Series A Warrant will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: the holders thereof to purchase one common share of Osgoode at a price of $1.00 per share until March 31, 2002. Each Series B Warrant will entitle the holders thereof to purchase one common share of Osgoode at a price of $1.50 per share until March 31, 2002. Each Series C Warrant will entitle the holders thereof to purchase one common share of Osgoode at a price of $0.50 per share until March 31, 2002. Each Series D Warrant will entitle the holders thereof to purchase one common share of Osgoode at a price of $0.50 per share until March 31, 2002. Each Series E Warrant will entitle the holders thereof to purchase one common share of Osgoode at a price of $0.75 per share until March 31, 2002. Lasermedia is involved in the development, publication and distribution of high quality, interactive consumer software in the entertainment, home education and personal fitness market categories. Lasermedia's products and development efforts are directed towards interactive entertainment and home educational software for multimedia personal computers. The recent proliferation proliferation /pro·lif·er·a·tion/ (pro-lif?er-a´shun) the reproduction or multiplication of similar forms, especially of cells.prolif´erativeprolif´erous pro·lif·er·a·tion n. of Multimedia PC's, with expanded memory See EMS, EMM and expanded storage. (storage) expanded memory - Memory used through EMS. In systems based on Intel 80386 or later processor expanded memory is part of the extended memory that is mapped into the expanded memory page frame by the processor. , high speed processors, CD-ROM drives CD-ROM drives, which today typically means a CD-RW drive that is a combo CD-ROM, CD-R and CD-RW drive, come in a variety of speeds. The original drive (1x) transferred data at 150KB per second. and enhanced audio and visual features, together with the development of technology that permits the production of sophisticated interactive software, have combined to create an emerging market for interactive entertainment and educational products. Osgoode will be convening con·vene v. con·vened, con·ven·ing, con·venes v.intr. To come together usually for an official or public purpose; assemble formally. v.tr. 1. an annual and special meeting of shareholders around May 16, 1997 to, among other things, obtain the approval of this transaction as it would constitute a reverse take-over and to change the name of the Corporation to better reflect its new direction. A notice of meeting and information circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible will be mailed to shareholders forthwith Immediately; promptly; without delay; directly; within a reasonable time under the circumstances of the case. forthwith adv. a term found in contracts, court orders, and statutes, meaning as soon as it can be reasonably done. to provide full details of the proposed transaction and the operations of Lasermedia. The purchase price shall be payable by the issuance of up to 13,500,000 common shares and 600,000 Series A warrants, 200,000 Series B Warrants, 200,000 Series C Warrants, 100,000 Series D Warrants and 2,700,000 Series E Warrants. It is expected that this transaction will close on or about May 31, 1997. This transaction is subject to the approval of all necessary regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , satisfactory completion of 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. by all parties and final board of directors approval. CONTACT: Osgoode Holdings Inc. Gordon Cowie, 416/967-4779 |
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