Application for Voluntary Delisting of QuStream Shares from the TSX Venture Exchange and Change in Management
November 22 2010 - 5:00PM
Marketwired
QuStream Corporation ("QuStream" or the "Company") (TSX VENTURE:
QVC), a provider of broadcast, Pro A/V and multimedia solutions,
announces that it is applying to voluntarily delist its common
shares from the TSX Venture Exchange (the "Exchange") pursuant to
Policy 2.9 of the Corporate Finance Manual of the Exchange ("Policy
2.9").
The Company has concluded that the strategic business plan can
be best executed with the delisting from the Exchange. Accordingly,
the board of directors of the Corporation has approved the
application to the Exchange for the voluntary delisting of its
common shares from the Exchange (the "Delisting Application").
Pursuant to Policy 2.9, the Corporation is required to submit to
the Exchange, among other things, evidence of the majority of the
minority shareholder approval for the Delisting Application. The
delisting is subject to the approval of the Exchange.
The Company also announces that Angelo Tullo, CFO and Vice
President of Finance of QuStream, will transition his
responsibilities to Ricky Ng, Corporate Controller of QuStream, and
subsequently be appointed to the Advisory Committee of the
Corporation.
Forward-Looking Statements:
The statements made in this press release that are not
historical facts contain forward-looking information that involves
risk and uncertainties. All statements, other than statements of
historical facts, which address QuStream's expectations, should be
considered forward-looking statements. Such statements are based on
management's exercise of business judgment as well as assumptions
made by and information currently available to management. When
used in this document, the words "may", "will", "anticipate",
"believe", "estimate", "expect", "intend" and words of similar
import, are intended to identify any forward-looking statements.
You should not place undue reliance on these forward-looking
statements. These statements reflect our current view of future
events and are subject to certain risks and uncertainties as
contained in the Company's filings with Canadian securities
regulatory authorities, which in relation to this press release
include, but are not limited to, the Exchange approval of the
delisting, our strategic business plan and the change in
management. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, our
actual results could differ materially from those anticipated in
these forward-looking statements. We undertake no obligation, and
do not intend, to update, revise or otherwise publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence
of any unanticipated events. Although we believe that our
expectations are based on reasonable assumptions, we can give no
assurance that our expectations will materialize.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: QuStream Corporation Angelo Tullo CFO and VP of
Finance +1 (905) 752-3700 (x201) atullo@qustream.com
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