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News Release
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YALETOWN ENTERTAINMENT CORP. 407 - 535 Howe Street, Vancouver, B. C. V6C 2Z4 Tel: (604) 688-0118 Fax: (604) 688-3348 CUSIP# 984909101 Rule 12g3-2(b)# 82-4336 |
Wednesday, April 12, 2000
CDNX Trading Symbol: YAL
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
OPTION AGREEMENT WITH NORTH INDIA TELEVISION
The Company announces that it has entered into a loan and option agreement with North India Television Ltd., New Delhi. Pursuant to the loan and option agreement the Company will advance a loan of U.S.$75,000 to North India Television Inc. pending completion of the company's due diligence review and thereafter, for a one time payment of U.S.$300,000 less the loan amount advanced, may acquire the exclusive worldwide re-broadcast license for all media including digital media for all programming carried by North India Television Inc. North India Television Inc. owns Channel Punjabi, a satellite based free-to-air Punjabi language television channel which holds a six-year exclusive license to broadcast the Gurbani Kirtan, the religious services central to the Sikh religion, twice daily live from within the Golden Temple at Amritsar. The remainder of Channel Punjabi's daily programming is a balanced mix of family and community oriented programs of interest to a broad base of Sikhs and Punjabi speaking peoples. North India Television Inc. will also assist in negotiations to license certain international marketing rights to certain trademarks, trade names and logos.
Yaletown Entertainment Corp. is an award winning television and movie producer listed on the Canadian Venture Exchange under trading symbol YAL.
For further information, please contact Mr. John Cumming, Chief Executive Officer, or Roger Kelly, Manager of Corporate Communications, at telephone 604.688.0118 or check out our web site at www.yaletownentertainment.com.
John C. R. Cumming
John C. R. Cumming, Director, Chairman & C.E.O.
THE CANADIAN VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
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Yaletown Entertainment Corporation, Vancouver B.C. Canada
tel: (604) 669-3543 - Executive/Production Offices
Canadian Venture Exchange: ECY