MONTREAL, March 1 /CNW Telbec/ - Mediagrif Interactive Technologies Inc.
("Mediagrif") (TSX: MDF), a world-leading developer of e-business networks and
provider of complete e-business solutions, announces that it has obtained
approval from the Toronto Stock Exchange in order to renew its normal course
Therefore, beginning on March 5, 2007, Mediagrif will be authorized to
acquire, from time to time, during a twelve-month period and when it deems it
appropriate, up to a maximum of 1,018,501 common shares, representing
approximately 10% of the public float as at February 28, 2007, which was
comprised of 10,185,014 common shares. As of February 28, 2007, Mediagrif had
17,833,195 common issued and outstanding shares. The common shares purchased
will be cancelled. Mediagrif's management considers that the acquisition of
common shares in the course of this issuer bid will represent a sound use of
the Corporation's funds both for the Corporation and for its shareholders. All
purchases will be made through the facilities of the Toronto Stock Exchange.
None of Mediagrif's directors or senior officers, nor any of their
associates, nor any person acting jointly or in concert with Mediagrif, or
holding 10% or more of the shares of any class of shares of Mediagrif, will
receive any direct or indirect benefit as a result of this Normal Course
Issuer Bid other than the benefits conferred upon all Mediagrif shareholders.
Mediagrif has purchased 722,600 common shares at an average purchase price of
$9.70 per share under its normal course issuer bid that started on March 3rd,
2006 and terminates on March 2, 2007.
If Mediagrif deems it appropriate, purchases may commence on March 5,
2007 until, at the latest, March 4, 2008.
Mediagrif Interactive Technologies Inc. is a public corporation of which
the common shares are listed on the Toronto Stock Exchange.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading
operator of e-business networks and provider of complete e-business solutions.
Mediagrif's e-business networks allow buyers and sellers within specific
industries to source, purchase or sell products and to exchange documents more
efficiently using the Internet. Mediagrif operates 14 networks, including
industry leaders The Broker Forum ( www.brokerforum.com ), Power Source
On-Line ( www.powersourceonline.com ), Telecom Finders
( www.telecomfinders.com ), Global Wine & Spirits
( www.globalwinespirits.com ) and Polygon ( www.polygon.net ). The company
also owns MERX ( www.merx.com ), the exclusive provider of e-tendering
services to the federal government of Canada, and is a leading provider of
government bid aggregation services and e-procurement services in the U.S.
Headquartered in Montreal, Mediagrif through its subsidiaries has various
offices in Canada, the United States, China, India and Dubai. For more
information on Mediagrif please visit us at www.mediagrif.com or call 1 (877)
For further information:
For further information: Mediagrif Interactive Technologies Inc.:
Catherine Allard, (450) 677-8797, ext. 2133, firstname.lastname@example.org