Printer Friendly

HARISTON CORP. ANNOUNCES SALE OF JOINT VENTURE INTEREST

 VANCOUVER, British Columbia, April 30 /PRNewswire/ -- Hariston Corp. (Hariston) (NASDAQ: HRSNF) announced that it has sold its 50 percent joint venture interest in the distribution and sale of medallions for the 1994 World Cup Soccer programs back to its joint venture partner Madison Avenue Sports Network Ltd. (Madison).
 Hariston received in consideration of the 50 percent interest a repayment of the $500,000 originally advanced to the Licence Chicagoland Processing Corp. on behalf of the joint venture.
 Hariston will also receive 200,000 common shares of Madison issued from treasury as consideration for providing the original funding and structuring the transactions.
 Hariston directly and indirectly through its 100 percent-owned subsidiary Canadian Capital Financial Markets (C.C.F.M.) Inc. will own approximately 36 percent of the issued and outstanding shares of Madison.
 Hariston will allocate the funds received from the sale for general working capital purposes as well as for potential investments.
 Madison will continue to actively arrange the sale and distribution of the medallions in Canada and throughout Europe under the terms of the World Cup distribution agreement.
 -0- 4/30/93
 /CONTACT: Joseph J. Duggan, chairman of Hariston, 604-224-4323/
 (HRSNF)


CO: Hariston Corp.; Madison Avenue Sports Network Ltd. ST: British Columbia IN: SU: TNM

JL -- LA036 -- 3486 04/30/93 19:32 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 30, 1993
Words:215
Previous Article:ENVIROMINT FILES TO EXTEND ITS OFFERS TO ACQUIRE FOR CASH ALL OUTSTANDING SHARES OF HOME-STAKE COMPANIES
Next Article:ASTRA USA, INC.: GUSTO-1 "NOT A MANDATE" TO CHANGE THROMBOLYTIC THERAPY
Topics:


Related Articles
HARISTON CORPORATION ANNOUNCES JOINT VENTURE
HARISTON CORP. ANNOUNCES JOINT VENTURE
HARISTON CORP. ANNOUNCES SUBSIDIARY -- METANETIX -- COMMENCES COMMERICAL PRODUCTION AT BUTTE, MONT.
HARISTON CORP. - CORPORATE UPDATE
HARISTON BOOKS A US$7.4 MILLION GAIN IN THE SECOND QUARTER THROUGH SALE OF 2 MILLION SHARES IN POLISH SUBSIDIARY POLISH LIFE IMPROVEMENT (PLI)
HARISTON CORP. ANNOUNCEMENT
HARISTON ANNOUNCES POLISH LIFE IMPROVEMENT S.A. COMPLETES INITIAL PUBLIC OFFERING
HARISTON COMPLETES HIGHTEXT ACQUISITION
PLI INVESTMENT BEGINS TRADING ON WARSAW STOCK EXCHANGE
HARISTON ANNOUNCES PLANS TO RESTRUCTURE; RESULTS OF PLI

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters