VANCOUVER, BC / ACCESSWIRE / November 6, 2018 / The Wonderfilm Media Corporation. (TSXV: WNDR), (OTC: WDRFF), ("Wonderfilm" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") with a confidential media and technology company ("Target") to acquire the Target by way of a share exchange or other form of suitable business combination (the "Transaction").
Completion of the Transaction is subject to a number of conditions. Such conditions include the execution of a definitive agreement; completion of mutually satisfactory due diligence; majority consent approvals of the respective shareholders; and receipt of all required regulatory, corporate and third party approvals and fulfillment of all applicable regulatory requirements and conditions necessary to complete the Transaction, including approvals by the TSXV as the proposed transaction may be a "Reviewable Transaction" under Policy 5.3 "Acquisitions and Dispositions on Non-Cash Assets" of the TSXV. As a result of such conditions, there can be no assurance that the Transaction will be completed as proposed or at all.
Trading in the Wonderfilm's common shares has been halted by the TSXV at the Corporation's request. The halt is expected to continue pending the completion of certain pending conditions and the TSXV's review and acceptance of materials regarding the satisfaction of such conditions.
This is an initial press release. The Corporation plans to issue a further press release once it has completed the pending conditions and provide the information prescribed by applicable policies of the TSXV related to the Transaction.
Neither the TSX Venture Exchange Inc. ("Exchange") nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
About Wonderfilm Media
Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with offices in Beverly Hills, United States of America; Vancouver, Canada; and Seoul, South Korea. Wonderfilm's main business is the production of high-quality feature films and episodic television that offer international appeal through the Company's guiding philosophy of bringing new financing solutions to an entertainment industry increasingly looking for funding and co-production alternatives. Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm's length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
Cautionary Statements
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as "believe," "expect," "target," "anticipate," "forecast," "intend," "plan," "projects," "seek," "will," "may" or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm's control and Wonderfilm's actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors.
Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further details, please see the Company's documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
Further Information
For further information, please contact:
Kirk Shaw
The Wonderfilm Media Corporation,
Chief Executive Officer
Telephone: (604) 638-4890
Email: [email protected]
Prit Singh
Investor Relations
Telephone: 905-5107636
Email: [email protected]
SOURCE: The Wonderfilm Media Corporation