FRV Media Voluntary Delists its Shares From NEX and Announces NameChange and Share Consolidation
MONTREAL, QUEBEC, Apr 03, 2012 (Menafn - MARKETWIRE via COMTEX) --FRV Media Inc. (the "Corporation") announcedtoday that it has voluntarily terminated the listing of its Class AShares on NEX as of the closing of the markets on April 3, 2012 (the"Effective Date") as such de-listing was approved by the majority ofits minority shareholders on January 31, 2012.
Further to such delisting as previously approved by its shareholders,the Corporation will proceed with the consolidation of the issued andoutstanding Class A shares ("Class A Shares") of the Corporation onthe basis of one (1) new Class A Share for each fifty (50) currentlyissued and outstanding Class A Shares and will change its corporatename for "Global SeaFarms Corporation".
Letters of transmittal with respect to the name change and theconsolidation have been mailed out to all of the Company's registeredshareholders together with the management proxy circular datedDecember 21, 2011 in relation to the annual and special shareholdersmeeting held on January 31, 2012. All registered shareholders of theCompany will be required to send their certificates representingpre-consolidation Class A Shares with a properly executed letter oftransmittal to the Company's transfer agent, Computershare InvestorServices Inc. ("Computershare") at P. O. Box 7021, 31 Adelaide StreetEast, Toronto, Ontario, M5C 3H2, attention: Reorganization (CorporateActions - 1-800-564-6253, Toll Free in Canada, or email@example.com). Additional copies of the letterof transmittal can be obtained through Computershare. Allshareholders who duly complete letters of transmittal and submittheir pre-consolidation Class A Share certificates to Computersharewill receive new share certificates representing the number ofpost-consolidation Class A Shares to which they are entitled topursuant to the terms of the consolidation.
No fractional post-consolidation Class A Shares will be issuedpursuant to the consolidation. Any such fractional Class A Shareswill be deemed to be a subscription for the next smallest wholenumber of Class A Shares and no cash consideration will be paid inrespect of fractional Class A shares. The exercise price and thenumber of Class A Shares issuable under any of the Company'soutstanding warrants and options will be proportionately adjustedupon the consolidation.
This press release does not constitute an offer to sell or thesolicitation of an offer to buy any securities in any jurisdiction.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Secretary and Director
SOURCE: FRV Media Inc.
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