Media Central Sets Date for Special Shareholder Meeting
Toronto, Ontario--(Newsfile Corp. - October 29, 2020) - Media Central Corporation Inc. (CSE: FLYY) (FSE: 3AT) ("Media Central" or the "Company") announces the date for a Special Meeting of Shareholders (the "Meeting") as December 30, 2020.
Following receipt of a shareholder requisition for a special meeting (See press release dated October 15, 2020), the Company has directed its transfer agent to file a Notice of Record and Meeting Dates with the relevant regulators and the Canadian Securities Exchange.
Record Date: November 25, 2020
Meeting Date: December 30, 2020
The Company worked in the most expeditious manner possible to schedule this Meeting, after the Board of Directors took the necessary time to review the requisition materials and to consult with a variety of stakeholders including shareholders who reached out to the Company to express their concerns with the actions of the dissident shareholders. The Company is grateful for the support expressed for the current leadership.
The actions taken by a small group of dissident shareholders have created, and continue to create, an unnecessary distraction from managing the day-to-day business of Media Central, especially during a pandemic, which began affecting Media Central within mere months of its launch. These same actions further needlessly serve to undermine the Company's underlying business and the tremendous potential upon which Management has been striving to capitalize - to the benefit of ALL shareholders.
"During our 2020 AGM, we saw over 57% of the issued and outstanding shares of Media Central vote their shares and the majority expressed their confidence in the Company by duly re-electing the Board of Directors," stated Brian Kalish, President and CEO. "While this is an unfortunate disruption especially in these times, we remain committed to ensuring that every shareholder of Media Central has the ability to have their voice heard."
In the interim, management will continue its work to build upon the developmental success that was detailed in the Company's open letter to shareholders (See press release dated June 9, 2020).
About Media Central Corporation Inc.
Media Central Corporation Inc. (CSE: FLYY) (FSE: 3AT) is an alternative media company situated to acquire and develop high-quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of digital cannabis platform CannCentral.com and ESports outlet ECentralSports.com. Media Central is consolidating and digitally monetizing the over 100 million coveted and premium consumers of the approximately 100 alternative urban publications across North America, creating the most powerful audience of influencers.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release may include, but are not limited to, statements with respect to internal expectations, expectations with respect to estimated margins, cost structures, and cost structures in the media industry. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the media industry generally, income tax and regulatory matters; the ability of Media Central to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive and should carefully review the various risks and uncertainties identified in the Company's filings on SEDAR. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67150