/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 25 /CNW/ - Fluid Music Canada, Inc. (TSX:FMN) ("Fluid") announced today that it held its Annual and Special Meeting (the "Meeting") in Toronto, Ontario.
At the Meeting, shareholders elected the following individuals as directors of the Corporation: Lorne K. Abony, Director, President and CEO, Justin F. Beckett, Director, Richard Weil, Independent Director, James Lanthier, Director and Chief Operating Officer, Harvey Solursh, Independent Director and Anatoli Plotkine, Independent Director
Shareholders also confirmed the appointment of Ernst & Young LLP as auditors of Fluid and authorized the directors to fix their remuneration.
Shareholders also passed a special resolution to change the name of Fluid to "Mood Media Corporation". On June 4, 2010, Fluid completed its acquisition of Mood Media Group SA. Having regard to the significantly expanded operations resulting from this acquisition and its 2009 acquisition of Somerset Entertainment Income Fund, the board of directors of Fluid considered it appropriate and in the best interests of the Corporation that its name be changed. Fluid has received conditional approval from the Toronto Stock Exchange to adopt the new trading symbol "MM" for its common shares and it is expected that Fluid will begin trading under this new symbol on or about July 12, 2010.
Fluid is also pleased to announce that Ben Gujral, the current Chief Financial Officer of Mood Media Group SA, which was recently acquired by Fluid, has been appointed as Chief Financial Officer of Fluid. Fluid is delighted that Robert Meier will remain as Chief Financial Officer of Somerset Entertainment Ltd., a wholly-owned subsidiary of Fluid, the office held by Mr. Meier prior to Fluid's recent acquisition of Somerset last fall.
About Mood Media Corporation (formerly Fluid Music Canada, Inc.)
Mood Media Corporation ("Mood Media") is a leading private label music aggregation and distribution company, providing music solutions to both business and individual consumers. Mood Media has compiled a music library of five million songs from a diverse network of producers, including major label, independent and emerging artists. Trusonic, Mood Media's wholly owned subsidiary, is a leader in Internet-delivered background music and messaging to the retail and hospitality sectors in North America. Mood Media's retail point of purchase division, Somerset Entertainment Ltd. is the leading North American producer and distributor of specialty music sold through non-traditional retailers using interactive displays. It has an active network of over 24,600 interactive displays installed in 18,800 locations in North America. Somerset's customers include leading retailers such as Wal-Mart, Target, Costco, Bed Bath & Beyond and Shoppers Drug Mart. Mood Media Group SA provides in-store audio, video, media and marketing solutions to a wide range of businesses including specialist retailers, department stores, supermarkets, financial institutions and fitness clubs as well as hotels and restaurants. In total, Mood Media supports over 650 international brands in more than 155,000 commercial sites across 37 countries including North America, Canada, Europe, Australia and Asia. Mood Media's services have a direct impact on consumer purchasing decisions at the point of purchase which makes in-store media a highly effective marketing tool. In-store media services enhance branding in real-time, drive impulse purchases and increase footfall by improving the shopping experience for customers. For further information about Mood Media, please visit www.fluidmusic.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The statements that are concerning Mood Media's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and the business, operations, are forward-looking statements. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to important assumptions. While Mood Media considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Mood Media. Forward-looking statements are given only as at the date hereof and Mood Media disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
SOURCE Mood Media Corporation
For further information: For further information: Lorne Abony, Chairman, President and Chief Executive Officer, Mood Media Corporation, 416 510 2800