Big Stick Media Corporation Announces Renegotiation With Lenders
30 1월 2010 - 7:59AM
Marketwired
Big Stick Media Corporation ("BSM" or the "Company") (TSX VENTURE:
BSM)announces that it may not be able to meet its repayment of debt
and interest obligations to those convertible debenture holders
that participated in the April, 2008 financing. The Company is
therefore proceeding to renegotiate with a view to restructuring
the remaining payments including the next scheduled payment of
principal and interest, in the approximate aggregate amount of
$537,500, which becomes due on February 28, 2010. All of the prior
periodic debt obligation payments with respect to this facility
have been fully satisfied.
Additional information about BSM is available under the
company's profile at www.sedar.com.
As at the date hereof BSM has 23,992,020 issued and outstanding
common shares.
About Big Stick Media Corporation
BSM owns and operates a portfolio of assets that provide
fact-based and opinion oriented information relevant to the sports
industry. These assets include websites, client-server software,
publications and call centers. BSM generates revenues in a number
of ways, including various direct to consumer services and direct
to business sales through a portfolio of websites, the most
significant of which are www.JimFeist.com, www.donbest.com, and
www.g-picks.com. BSM also operates the Don Best Sports real-time
sports information systems for serious sports enthusiasts,
handicappers and bettors.
Cautionary Statement
This press release may contain certain forward-looking
statements with respect to the Company. These forward-looking
statements, by their nature, involve risks and uncertainties that
could cause actual results to differ materially from those
contemplated. We consider the assumptions on which these
forward-looking statements are based to be reasonable, but caution
the reader that these assumptions regarding future events, many of
which are beyond our control, may ultimately prove to be incorrect.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
Big Stick Media Corporation's expectations are various risks
detailed from time to time in the filings made by Big Stick Media
Corporation with securities regulations.
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 and
accuracy of this release.
Contacts: Big Stick Media Corporation Christopher S. Kape Chief
Executive Officer (604) 630-6550 ext. 111
chris@bigstickmedia.com
Big Stick Media Corp (TSXV:BSM)
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Big Stick Media Corp (TSXV:BSM)
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