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LONGUEUIL, QC, Nov. 20, 2013 /CNW Telbec/ - Further to its press release of October 2, 2013, Section Rouge Média Inc. ("Section Rouge") (TSX-V: SRO), announces that the reverse takeover transaction with Les Emballages Cartex Inc. ("Cartex") has been terminated.
The proposed transaction, initially announced on March 1, 2013, was subject to a number of conditions being satisfied, including the execution of formal agreements and completion of all legal, accounting and financial due diligence. Due diligence was not conclusive so that Section Rouge Média terminated the letter of intent to acquire all of the issued and outstanding shares of Cartex.
Section Rouge will continue to conduct its current activitie which consists essentially in the edition of the publication "Ma revue agricole.com".
The Section Rouge's common shares are expected to recommence trading on the TSX Venture Exchange on or about November 22, 2013.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Section Rouge Média Inc.
For further information:
Section Rouge Média Inc.
Jean-Pierre Rancourt, President and CEO
Tel: 450-677-2556 #222