MediaCentral Corporation Receives Notice of Intention to Enforce Security
TORONTO, March 13, 2022 (GLOBE NEWSWIRE) — Media Central Corporation, Inc. (CSE: FLYY, FSE:3AT) or (the “Company”) today announced that on March 9, 2022 under section 244(1) of the Bankruptcy and Insolvency Act (Canada), Wei Lin in his capacity as Nominee Holder (the “Nominee Holder”) in respect to the Secured Convertible Debentures (the “Debentures”) issued on behalf of each of the holders (the “Debenture Holders”) of the Debentures outstanding in the aggregate principal amount of more than $1,097,000 intends to enforce its security against the property of the Company. The Debenture Holders have a general security interest in the assets of the Company pursuant to the terms of the Debentures. The Nominee Holder was appointed by the Debenture Holders holding more than 51% of the principal amount of the outstanding Debentures.
The Company will provide further updates as more information becomes available.
About Media Central Corporation Inc.
Media Central Corporation Inc. 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.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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 the determination of the actions of the Debenture Holders. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions 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.
SOURCE: Media Central Corporation Inc.
Contact:
Maria Micieli
Corporate Secretary
mariam@mediacentralcorp.com
416-434-6311
