CALGARY, Sept. 17, 2013 /CNW/ - Rare Method Interactive Corp. (TSX-V: RAM) announces that its subsidiary, Rare Method Interactive Studios ("Studios"), has filed a Notice of Intention to Make a proposal under the Bankruptcy and Insolvency Act (Canada). This filing affects an initial 30-day stay of proceedings against all creditors of Studios during which Studios must file a proposal with the court. The implications for creditors and other stakeholders are not known at this time and will not be known until the restructuring process is complete.
BDO Canada Limited has been appointed as Trustee in Bankruptcy.
On another matter, the TSX Venture Exchange has transferred the shares of Rare Method Interactive Corp. to NEX effective August 26, 2013. The shares will remain suspended from trading, pending the revocation of the cease trade order.
About Rare Method Interactive Corp.
Rare Method (TSX-V: RAM) is an integrated agency that leverages technology to make marketing more effective and accountable. Rare Method offers a range of marketing services including marketing strategies, creative, technology development, media planning & management, campaign analytics, reporting & optimization.
Neither 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.
SOURCE: Rare Method Interactive Corp.
For further information:
Evan Spiropoulos, Chairman
Tel: (403) 543-4500