TORONTO, March 25 /CNW/ - Multimedia Nova Corporation (TSX-V: MNC.A) (the "Corporation") is pleased to announce that it has reached an agreement to extend the maturity date of a Convertible Term Note that was originally issued to Laurus Master Fund, Ltd. ("Laurus") on April 18, 2005 and was subsequently assigned by Laurus to LV Administrative Services, Inc., as agent for Valans U.S. SPV I, LLC and Valens Offshore SPV I, Ltd. (the "Convertible Term Note").
The Convertible Term Note was scheduled to mature on April 28, 2010. By mutual agreement of all parties, the maturity date has been extended to August 31, 2010. In accordance with the terms of the Convertible Term Note, the Corporation had made a prior principal prepayment of US$500,000, reducing the principal currently outstanding on the Convertible Term Note to US$3,500,000.
Multimedia Nova Corporation is an integrated communications enterprise based in Toronto, Ontario.
The TSXV has neither approved nor disapproved of the contents of this press release and it does not accept responsibility for the adequacy or accuracy of the contents hereof.
SOURCE MULTIMEDIA NOVA CORPORATION
For further information: For further information: Ms. Lori Abittan, President and Chief Executive Officer or Mr. Joe Mastrogiacomo, Chief Financial Officer at (416) 785-4300, fax (416) 785-4303