AldeaVision files a plan of arrangement and reorganization

    Symbol:     AVS
    Newspaper:  AVS
    Industry:   Telecommunications

    ST-LAURENT, QC, Dec. 20 /CNW Telbec/ - AldeaVision Solutions Inc. (the
"Company") (TSXV: AVS) announces that, after careful consideration of all
available alternatives, the Board of Directors of the Company, which has been
hampered by market, operational and financial challenges, has determined that
it is in the best interests of all of its stakeholders to file a plan of
arrangement and reorganization (the "Plan") under the Companies' Creditors
Arrangement Act (Canada) and the Canada Business Corporations Act (Canada). As
a consequence, a Motion was filed today seeking the sanction of the Plan with
the Quebec Superior Court (the "Court"). The Plan will affect the Company's
shareholders, debenture holders and its secured creditor. Given the prior
approval of the debenture holders and the secured creditor, no stay of
proceedings is being sought. Accordingly, the Company has filed the Plan
directly and is requesting its immediate sanction by the Court. All other
creditors remain unaffected and the Company's day-to-day business will
continue undisturbed.

    The Plan includes, among others, the following transactions:

    - the cancellation and write-off of all issued and outstanding common
      shares of the Company;
    - the cancellation of all issued and outstanding stock options issued
      under the Company's stock option plan and the cancellation of such
    - the issuance of 3,570,000 new Class A common shares of the Company to
      certain existing creditors of the Company as described below;
    - the cancellation and discharge of all convertible debentures issued to
      Miralta Capital II Inc., Almiria Capital Corp. ("Almiria") and GTR
      Capital Inc. without any payment or other consideration;
    - the cancellation and discharge of all convertible debentures issued to
      Capital Régional et Coopératif Desjardins and Desjardins Capital de
      Développement Montréal Ouest et Nord du Québec Inc. (collectively,
      "Desjardins") in exchange for 170,000 Class A common shares;
    - the granting to Desjardins of an option to subscribe an additional
      200,000 Class A common shares at a price of $1.00 per share which
      option is set to expire on the later of: (i) 90 days following the
      closing date of the Plan; or (ii) April 30, 2008;
    - the cancellation and discharge of the $900,000 short-term credit
      facility granted by Almiria to the Company in exchange for
      900,000 Class A common shares;
    - the cancellation and discharge of all other remaining debt in the
      aggregate amount of $3 750 000 owed by the Company to Almiria in
      exchange for 2,000,000 Class A common shares; and
    - the subscription by Almiria of 500,000 Class A common shares for an
      aggregate subscription price of $500,000.

    If the Plan is approved by the Court, the Company will cease to be a
reporting issuer in all Canadian provinces and its common shares will be
delisted from the TSX Venture Exchange. Following the Court's approval, the
transactions contemplated in the Plan and filing of the Company's Articles of
Reorganization will occur on or before January 15, 2008. In the event that the
Court does not approve the Plan, the board of directors will review other
available options including placing the Company into receivership or

    Certain information regarding the Company in this news release including
management's assessment of future plans and operations and the timing thereof
may constitute forward-looking statements under applicable securities laws and
necessarily involve risks including, without limitation, risks associated with
the uncertainty involved in Court proceedings and the implementation of a Plan
of Arrangement under the CCAA and the ability to access sufficient capital
from internal and external sources to assure the Company's survival. As a
consequence, the Company's actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be given that
any events anticipated by the forward-looking statements will transpire or
occur, or, if any of them do so, what benefits the Company will derive
therefrom. Readers are cautioned that the foregoing list of factors is not
exhaustive. Furthermore, the forward-looking statements contained in this news
release are made as at the date of this news release and the Company does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    About AldeaVision Solutions Inc.

    Montreal-based AldeaVision Solutions Inc. is an innovative provider of
broadcast quality video services and solutions for the television, film and
media industries. The Company provides end-to-end worldwide transmissions
services using fiber and satellite facilities. The Company also operates the
first pan-American fully automated fiber-based network for broadcast services
with points-of-service in 16 cities and 9 countries: Miami, New York,
Washington D.C, Los Angeles, Boston, Toronto, Montreal, Mexico City,
Guadalajara (Mexico), Lima (Peru), Rio de Janeiro (Brazil), Sao Paulo
(Brazil), Santiago (Chile), Buenos Aires (Argentina), Bogota, (Colombia), and
Madrid (Spain)

    AldeaVision Solutions Inc. is currently listed on the TSX Venture
Exchange under the symbol AVS. Additional information is available at

For further information:

For further information: AldeaVision Solutions Inc.: Morrie Glick, Chief
Financial Officer & Vice-President, Finance, (514) 344-5432, Fax: (514)

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