TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp.’s wholly-owned subsidiary, Postmedia Network Inc. (“Postmedia” or the “Company”), announced today the results of its previously announced offer to purchase up to $17,235,000 of its 8.25% Senior Secured Notes (the “Notes”), plus accrued and unpaid interest up to but excluding the date of purchase (the “Offer”). The offer expired at 11:59 pm EDT on August 31, 2015 (the “Expiration Date”).
As of the Expiration Date, $6,531,000 in aggregate principal amount of Notes had been surrendered for purchase pursuant to the Offer. The Company intends to accept for purchase and pay for all of the Notes that have been validly tendered pursuant to the Offer. Holders that have validly tendered their Notes will receive a cash payment representing the principal amount thereof plus accrued and unpaid interest as described above and in accordance with the terms of the Offer. Registered holders of Notes that are purchased will receive payment for their purchased Notes on September 4, 2015. Holders of Notes that are purchased will not receive any future interest payments on such purchased Notes.
Note: All dollar amounts are expressed in Canadian dollars.
Additional Information
Additional information on Postmedia
Network Canada Corp. and the Company, including financial statements and
management’s discussion and analysis, can be found on the Company’s
website at www.postmedia.com/investors/financial-reports,
on SEDAR at www.sedar.com
or on the website maintained by the U.S. Securities and Exchange
Commission (the “SEC”) at www.sec.gov.
About Postmedia Network Canada Corp.
Postmedia Network
Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns
Postmedia Network Inc., the largest publisher by circulation of daily
newspapers in Canada, representing some of the country’s oldest and best
known media brands. Reaching millions of Canadians every week, Postmedia
engages readers and offers advertisers and marketers integrated
solutions to effectively reach target audiences through a variety of
print, online, digital, and mobile platforms.
Forward-Looking Information
This news release may include
information that is “forward-looking information” under applicable
Canadian securities laws and “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
The Company has tried, where possible, to identify such information and
statements by using words such as “believe,” “expect,” “intend,”
“estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and
similar expressions and derivations thereof in connection with any
discussion of future events, trends or prospects or future operating or
financial performance. Forward-looking statements in this news release
include statements with respect to the purchase of the Notes surrendered
for purchase. By their nature, forward-looking information and
statements involve risks and uncertainties because they relate to events
and depend on circumstances that may or may not occur in the future.
These risks and uncertainties include, among others, the possibility
that the purchase of Notes will not close. Given these risks and
uncertainties, undue reliance should not be placed on any
forward-looking information or forward-looking statements, which speak
only as of the date of such information or statements. Other than as
required by law, the Company does not undertake, and specifically
declines, any obligation to update such information or statements or to
publicly announce the results of any revisions to any such information
or statements.
