Hana Mining Ltd HNMFF

Old Canada Investment Corp RTO

[queue]

Tuesday November 21, 12:02 pm Eastern Time Press Release Shareholders of Old Canada Investment Corporation Approve Reverse Takeover by Headline Sports TORONTO, ONTARIO--Old Canada Investment Corporation Limited (TSE:OCI - news) today announced that its shareholders have approved its previously announced agreement to acquire Sportscope Television Network Ltd. through a reverse takeover and to change its name to Headline Media Group Inc. Sportscope's principal business is the Headline Sports - The Score television network. Pursuant to the transaction, scheduled to close on November 24, 2000, Old Canada will issue treasury shares to the current owners of Sportscope, John Levy and Alliance Atlantis Communications Inc. In addition, John Levy, Alliance Atlantis, Frank Mersch and Griffiths McBurney & Partners will invest in aggregate approximately $27.5 million as a private placement in the new company. As a result of these transactions, John Levy will have voting control of the company, which will be owned approximately 49% by John Levy, 40% by Alliance Atlantis, 5% by Frank Mersch and 3% by Griffiths McBurney & Partners. Subject to fulfilling all the requirements of The Toronto Stock Exchange, The Class A Subordinate Voting Shares of Headline Media Group Inc. are expected to begin trading on the Toronto Stock Exchange under the symbol ``HMG'' some time next week.