MONTREAL, June 22 /CNW Telbec/ - PARTA sustainable solutions Inc. (TSX
Venture "PAS") ("PARTA") signed a letter of intent aimed to acquire all of the
issued and outstanding shares of Alternative Media Initiative Inc. ("AMI"), a
private company with headquarters in Montreal (Canada). Since 2007, AMI
operates, among others, Alternativechannel.tv, an online video distribution
platform (Web and mobile) available in 3 languages (English, French and
Spanish) which focuses on the realities and prospects of sustainable
development. This transaction shall be completed for a consideration of
$4,000,000, payable by the issuance of 10,256,410 PARTA shares at an estimated
price of $0.39 per share.
"After the recent integration of Edu-Performance, a Canadian leader in
the creation, diffusion and management of e-Learning content, AMI's
acquisition represent for PARTA another concrete step toward the
accomplishment of its short-term business plan", commented Paul Allard,
Chairman of the Board of PARTA.
The completion of the proposed transaction is subject to certain
conditions, including the approval from TSX Ventures and due diligence
from PARTA. There is no certainty that the said transaction will be
completed as projected.
Furthermore, PARTA is pleased to announce Mr. Gilbert Boyer's nomination
as Chief Financial Officer. Mr. Boyer, Bachelor in Business Management from
the University of Quebec in Montreal, holds the title of CMA (Comptable en
Management Accrédité) and has a long track record in finance and management,
cumulating more than 20 years of experience. Before joining PARTA, Mr. Boyer
worked as a Director of Finance for a renowned company in the transport
industry in Canada. Previously, he made his mark as a controller for human
resources companies, as well as in the manufacturing industry.
"No doubt that Gilbert Boyer represents a leading asset in the
implementation of our business plan. Mr. Boyer has demonstrated, in the past,
his ability to work in financial management in highly competitive and complex
environments. I am convinced that he will, within our company, demonstrate a
high level of professionalism and diligence", said Paul Allard .
Mr. Boyer is replacing Mr. Randy Koroll as officer of PARTA. Mr. Boyer
has also ceased to act as director of PARTA.
About PARTA sustainable solutions Inc. (www.partaworld.com/en/)
PARTA sustainable solutions Inc. develops and implements technology
solutions and services to enable companies to establish a real sustainable
development oriented dialogue between its internal and external stakeholders.
To achieve this, PARTA benefits, at the international level, on a recognized
expertise in communication, training and new media.
The investors are aware that beyond this release any published or
received information linked to the proposed transaction could be outdated
or incomplete and therefore shouldn't be considered reliable. Compromise
of values on the TSX Venture Exchange should be considered highly
(TSX Venture assumes no responsibility for the adequacy or accuracy of
For further information:
For further information: Paul Allard, Chairman of the Board, PARTA
sustainable solutions Inc., (514) 277-1201 ext 35, email@example.com