Postmedia Announces the Completion of the Sale of Islington Printing Facility
Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (“Postmedia” or “the Company”) today
announced that, further to its announcement of July 31, 2017, it has completed the sale of the property at 2250 Islington Avenue
Toronto, Ontario. The building currently houses a printing facility. Postmedia has entered into a lease for a portion of the
property for a period of up to ten years.
The net proceeds of the sale of the property will be applied to the redemption of its 8.25% Senior Secured Notes due 2021 in
accordance with the provisions of the Senior Secured Notes Indenture.
A total of $29.23 million of the aggregate principal amount of the outstanding Notes will be redeemed, at par on or about
October 6, 2017.
About Postmedia Network Inc.
Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a Canadian newsmedia
company representing more than 200 brands across multiple print, online, and mobile platforms. Award-winning journalists and
innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it.
This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target
audiences. For more information, visit www.postmedia.com.
Forward-Looking Information
This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The
Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,”
“intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in
connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking
statements in this news release include statements regarding the repayment of debt. By their nature, forward-looking information
and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur
in the future. These risks and uncertainties include, among others; competition from digital and other forms of media; the effect
of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the
failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost
savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible
environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of
newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors”
contained in our annual management’s discussion and analysis for the years ended August 31, 2016 and 2015. Although the Company
bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees that the
transaction will close or of future performance and actual results of operations, financial condition and liquidity, and
developments in the industry in which the Company operates may differ materially from any such information and statements in this
press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or
forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the
Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly
announce the results of any revisions to any such information or statements.
Postmedia
Media Contact
Phyllise Gelfand, 416-442-2936
Vice President, Communications
pgelfand@postmedia.com
or
Investor Contact
Brian Bidulka, 416-383-2499
Executive Vice President and Chief Financial Officer
bbidulka@postmedia.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170830006226/en/