LONGUEUIL, QC, March 3 /CNW Telbec/ - Mediagrif Interactive Technologies
Inc. ("Mediagrif" or the "Corporation") (TSX: MDF), a world-leading developer
of e-business networks and provider of complete e-business solutions,
announces the renewal of its Normal Course Issuer Bid in accordance with the
Therefore, beginning on March 5, 2008, Mediagrif will be authorized to
acquire, from time to time, during a twelve-month period and when it deems it
appropriate, up to a maximum of 598,465 common shares, representing
approximately 10% of the public float as of February 29, 2008, which
represented 5,984,650 common shares. As of February 29, 2008, Mediagrif had
14,719,241 common issued and outstanding shares. The common shares purchased
will be cancelled. Mediagrif's management considers that the acquisition of
common shares in the course of this issuer bid may represent a sound use of
the Corporation's funds both for the Corporation and for its shareholders. All
purchases will be made through the facilities of the Toronto Stock Exchange.
None of Mediagrif's directors or senior officers, nor any of their
associates, nor any person acting jointly or in concert with Mediagrif, or
holding 10% or more of the shares of any class of shares of Mediagrif, will
receive any direct or indirect benefit as a result of this Normal Course
Issuer Bid other than the benefits conferred upon all Mediagrif shareholders.
As of the date hereof, Mediagrif has purchased 490,243 common shares at an
average purchase price of $6.69 per share under its Normal Course Issuer Bid
that started on March 5, 2007 and terminates on March 4, 2008.
Purchases on the renewed Normal Course Issuer Bid may commence on
March 5, 2008 until, at the latest, March 4, 2009. The Average Daily Trading
Volume ("ADTV") of Mediagrif's common shares on the Toronto Stock Exchange was
11,550 for the six-month period, which started on August 1, 2007 through
January 31, 2008. Based on that number, Mediagrif would be entitled to
purchase up to 25% of the ADTV on any trading day, being 2,887 common shares.
This number will be reviewed on a regular basis to reflect the ADTV for any
rolling six months.
Mediagrif Interactive Technologies Inc. is a public corporation of which
the common shares are listed on the Toronto Stock Exchange.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading
operator of e-business networks and provider of complete e-business solutions.
Mediagrif's e-business networks allow buyers and sellers within specific
industries to source, purchase or sell products and to exchange documents more
efficiently using the Internet. Mediagrif operates 15 networks, including
industry leaders www.brokerforum.com, www.powersourceonline.com,
www.telecomfinders.com, www.globalwinespirits.com and www.polygon.net.
Mediagrif also owns MERX, www.merx.com, the exclusive provider of e-publishing
services to the Government of Canada, and is a leading provider of government
bid aggregation services and e-procurement services in the U.S. Headquartered
in Longueuil, Mediagrif has various offices in Canada, the U.S, China, India
and Dubai. For more information, please visit us at www.mediagrif.com or call
1 877 677-9088.
For further information:
For further information: Catherine Allard, Chief Financial Officer,
Mediagrif Interactive Technologies Inc., (450) 677-8797 ext. 2133,
firstname.lastname@example.org; Kathy Roberge, Director, Communications, Mediagrif
Interactive Technologies Inc., (450) 677-8797 ext. 3014,