Section Rouge Média and Evolutra sign new letter of intent



    LONGUEUIL, QC, Sept. 28 /CNW Telbec/ - SECTION ROUGE MEDIA INC.
(TSX-V: SRO) ("Section Rouge Media") announced today that it has signed a
letter of intent dated September 14, 2007, which supercedes and replaces a
letter of intent dated June 14, 2007, with Evolutra Corporation / Corporation
Evolutra ("Evolutra Corporation") for the acquisition (the "Acquisition") by
Section Rouge Media of 100% of the issued and outstanding shares of Evolutra
Corporation.
    The letter of intent dated September 14, 2007, is similar to the letter
of intent dated June 14, 2007, the terms of which were described in the press
release issued by Section Rouge Media on July 12, 2007, but different in
certain material respects including the following:

    
    a) the closing date of the Acquisition has been changed to November 30,
       2007;
    b) the consideration payable by Section Rouge Media upon the completion
       of the Acquisition has been changed to $18,317,000.00 in cash and
       44,862,643 shares of Section Rouge Media following the consolidation
       by Section Rouge Media of its common shares on a ten-to-one basis. The
       shares will have an estimated value of $1.017. The estimated total
       value of the consideration is $63,942,308.00. The value of the shares
       of Section Rouge Media forming part of the consideration will be
       evaluated by an independent evaluator; and
    c) the Acquisition is now conditional upon Evolutra acquiring four or
       more technology companies prior to the completion of the Acquisition.
    

    The common shares of Section Rouge Media listed on the TSX Venture
Exchange Inc. will continue to be the subject of a cease trading order until
the closing of the Acquisition and the approval of the TSX Venture Exchange
Inc.

    The Acquisition and the transactions contemplated herein (collectively,
the "Transactions") are subject to the approval of the TSX Venture Exchange
Inc. and also to the approval of the shareholders of Section Rouge Media and
Evolutra Corporation.
    Certain information included in this press release may be forward-looking
and involve risks and uncertainties. The results or events predicted in these
statements may differ materially from actual results or events. Factors that
might cause a difference include, but are not limited to, competitive
developments, risks associated with Section Rouge Media's growth, the state of
the financial markets, regulatory risks and other factors. Unless otherwise
required by applicable securities laws, Section Rouge Media disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. More
detailed information about potential factors that could affect Section Rouge
Media's financial and business results is included in public documents Section
Rouge Media files from time to time with Canadian securities regulatory
authorities.
    Completion of the Transactions is subject to a number of conditions,
including Exchange acceptance and disinterested Shareholder approval. The
Transactions cannot close until the required Shareholder approval is obtained.
There can be no assurance that the Transactions will be completed as proposed
or at all. Investors are cautioned that, except as disclosed in the Management
Information Circular to be prepared in connection with the Transactions, any
information released or received with respect to the Transactions may not be
accurate or complete and should not be relied upon. Trading in securities of
Section Rouge Media should be considered highly speculative.

    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed Transactions and has neither approved nor disapproved the
    contents of this press release.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    %SEDAR: 00008697EF




For further information:

For further information: Laird Greenshields, Morin Public Relations,
(514) 289-8688, ext. 221, Cell: (514) 464-3252; Source: Richard Desmarais,
CEO, Section Rouge Media Inc. (SRO.)

Organization Profile

Section Rouge Média Inc.

More on this organization

EVOLUTRA CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890