Graniz Mondal Inc. announces details of loan to DigiScreen Corporation

    NEX: GRA.H

    MONTREAL, April 30 /CNW/ - In connection with the previously announced
proposed reverse take-over transaction or other business combination (the
"Transaction") between Graniz Mondal Inc. ("Graniz") (NEX: GRA.H) and
DigiScreen Corporation ("DigiScreen") (disclosed in Graniz's press release of
April 9, 2009), Graniz has agreed to advance up to $250,000 to DigiScreen as a
loan (the "Loan") for the payment of Transaction-related and operational
expenses to be incurred by DigiScreen, so as to permit the continued operation
of DigiScreen while the parties pursue their discussions with respect to the
    The parties anticipate executing definitive documents with respect to the
Loan, including a loan agreement, after a binding letter of intent with
respect to the Transaction is executed. Graniz has already advanced $25,000 to
DigiScreen as part of the Loan, but will not advance any additional funds
until the TSX Venture Exchange has approved the Loan and the parties have
executed definitive documentation. Interest on the Loan will accrue at a rate
of 12% per annum. The Loan, plus interest, is to be repaid to Graniz on or
before January 30, 2010. The Loan will be secured by a first priority lien on
all of the personal property of DigiScreen, and all other secured creditors of
DigiScreen are expected to sign a subordination agreement in favour of Graniz
(except for a commercial lender that has a security interest in support of
approximately $5,000 of credit).

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. No stock
exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
    Completion of the Transaction is subject to a number of conditions,
including but not limited to TSX Venture Exchange acceptance and disinterested
shareholder approval. Where applicable, the Transaction cannot close until the
required shareholder approval is obtained. There can be no assurance that the
Transaction will be completed as proposed or at all.
    Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection with the
Transaction, any information released or received with respect to the
Transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of Graniz should be considered highly speculative.

    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed Transaction.

    The foregoing information may contain forward-looking statements relating
to the future performance of Graniz Mondal Inc. Forward-looking statements,
specifically those concerning future performance, are subject to certain risks
and uncertainties, and actual results may differ materially from Graniz's
plans and expectations. These plans, expectations, risks and uncertainties are
detailed herein and from time to time in the filings made by Graniz with the
TSX Venture Exchange/NEX and securities regulators. Graniz does not assume any
obligation to update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
    %SEDAR: 00008112E

For further information:

For further information: Richard-Marc Lacasse, President of Graniz,
(418) 564-8834

Organization Profile


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