Delay in the purchase of the dmg world media (Canada) gift shows.

TORONTO, Oct. 7 /CNW/ - The Canadian Gift & Tableware Association ("CGTA") and dmg world media (Canada) Inc. ("DMG") announced today that they have not yet concluded all legal aspects of the previously announced agreement in principle for the CGTA to purchase the Canadian DMG gift shows by the end of September.

"Both parties understood from the outset that the timetable was extremely aggressive to complete the transaction in time for the next show cycle. While we are disappointed a sale has not yet been completed, the Board of the CGTA remains committed to acquiring the DMG gift shows as soon as is practical," said Peter Moore, Executive Director of the CGTA.

"The priority now is to ensure that the exhibitors and buyers who attend the regional shows have the best opportunity possible to conduct profitable business. That objective is best served by DMG completing the next show cycle while we continue to finalize our arrangements," said Alan Steel, Executive Vice President, dmg world media.

Further details will be announced in due course.

About the CGTA

The Canadian Gift and Tableware Association (CGTA) is the pulse of Canada's $10-billion giftware industry. Embodying the entrepreneurial instinct and spirit, the CGTA is a national, not-for-profit association dedicated to improving its members' competitive capability and effectiveness by enhancing local, national and global business opportunities. The CGTA is comprised of over 1,500 companies made up of leading Canadian giftware manufacturers, importers, exporters, distributors and wholesalers. The CGTA owns and manages the CGTA Gift Show - the largest biannual trade show of any kind held in Canada with more than one million square feet of exhibition space. The CGTA Gift Show features over 1,000 exhibitors and attracts over 16,500 retail buyers from across Canada and around the world. Further information is available at www.cgta.org.

SOURCE Canadian Gift and Tableware Association

For further information: For further information: Jon Packer, Idea Workshop, 130 Spadina Ave., Suite 500, Toronto, ON, M5V 2L4, Phone: (416) 504-3977 x24, Fax: (416) 504-1608, jon@ideaworkshop.ca

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Canadian Gift and Tableware Association

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