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Clairvest Group Inc. Announces Alternate Structure Of Datamark Inc. Purchase.

TORONTO--(BUSINESS WIRE)--Jan. 31, 1997--(TSE CVG.) Clairvest Group Inc. announced that it has agreed to revise its agreement with Art Heller Enterprises Ltd. ("AHEL") pursuant to which Clairvest will acquire 2,999,870 Common Shares of Datamark Inc. Under the revised agreement, Clairvest will acquire the shares of a newly incorporated corporation ("Newco") which will hold the common shares of Datamark now held by AHEL. The purchase price for Newco will reflect a $3.00 purchase price for each Datamark share owned by it. This transaction is anticipated to close on or before February 12, 1997.

AHEL is a party to a shareholders agreement with the Fonds de Solidarite des Travailleurs du Quebec, the Caisse de Depot et Placement du Quebec and corporations controlled by two members of Datamark's management pursuant to which these Datamark shareholders have a first right of refusal to purchase the shares proposed to be acquired by Clairvest.

The conditions under the shareholders agreement necessary to enable Clairvest to complete the original transaction have been satisfied. Should the revised transaction not close on or before February 12, 1997. Clairvest will complete the purchase of the 2,999,870 Commons Shares held by AHEL as initially announced at a price of $3.10 per share.

CONTACT: Clairvest Group Inc.

Jeffrey Parr, 416/925-9270 Ext. 252
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Publication:Business Wire
Date:Jan 31, 1997
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