(TheNewswire)
VANCOUVER, CANADA / TheNewswire / January 18, 2017
– Network Media Group Inc. (“Network” or “the Company”) (TSX: NTE.V) is
pleased to announce it has entered into a definitive agreement with its subsidiary, Network Entertainment Inc.
(“Network Entertainment”), dated effective January 11, 2017, pursuant to which the Company
will acquire the remaining 4% of the issued and outstanding shares of Network Entertainment not previously held by the Company (the
“Transaction”). The Company will issue an aggregate of 800,000 common shares (the
“Transaction Shares”) to acquire the remaining shares of Network Entertainment at a deemed
price of $0.25 per Transaction Share for total consideration of $200,000. The Transaction Shares will be issued to the existing
shareholders of Network Entertainment on a pro rata basis. The Transaction is subject to approval/acceptance by the TSX
Venture Exchange.
About Network Media Group
Network is focused on becoming one of the world’s leading developers and producers of entertainment properties
for the global marketplace and its worldwide audience. It is the parent company of Network Entertainment Inc., an established
television and film production company with an award-winning international reputation. Its productions include the Academy Award
shortlisted feature documentary Facing Ali, as well as documentaries on the lives of Bruce
Lee, Steve McQueen, Evel Knievel and, most recently, Chris Farley and Johnny Cash. The Company recently released a two-part
documentary special The Cowboy, which premiered on Discovery’s American Heroes Channel, as
well as the first five episodes of a global seven-part series for National Geographic. Network's past projects and current
productions can be viewed at www.networkentertainment.ca. For further
information concerning this press release, please email info@networkentertainment.ca
ON BEHALF OF THE BOARD OF DIRECTORS OF
NETWORK MEDIA GROUP INC.
"Derik A. Murray"
Derik A. Murray
Chief Executive Officer and Director
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Except for historical information contained herein, this news release contains forward-looking
statements that involve risks and uncertainties, including the Company not obtaining required TSX Venture Exchange approval of the
Transaction and the Transaction not being completed as proposed or at all. These statements are necessarily
based upon management’s perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions
that, while considered reasonable by management of the Company as of the date of such statements, are inherently subject to
significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially,
being incorrect. All forward‐looking information in this news release involve known and unknown risks, uncertainties and other
factors that are beyond the control of the Company and may cause the actual results, performance or achievements of the Company to
be materially different from those expressed or implied by such forward‐looking information. Except as required pursuant to
applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after
the date hereof.
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