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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 |
Thursday, Sept. 21, 2000
CDNX Trading Symbol: YAL
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
RESUMPTION OF TRADING
The Company is pleased to announce that the shares of the Company will resume trading at the opening of the market on Friday, September 22, 2000. The Company wishes to reassure shareholders that the cessation of trading was due solely to an inadvertent oversight with respect to the appropriate SEDAR filing of the Company's quarterly financial statements. The Company also wishes to thank the staff of both the Alberta Securities Commission and the Canadian Venture Exchange for their timely cooperation in processing the resumption of trading.
The Company also wishes to provide shareholders with the following general update:
The Company's 2000 season television productions are on time and on budget in all respects. Shooting of Weird Homes is two-thirds complete with one-third of the episodes completed and delivered. The Life Network has advised that the new episodes are scheduled for broadcast commencing October 2, 2000. Shooting of Weird Wheels is one-half complete and in post-production with delivery scheduled for late fall. Shooting is complete for eight of thirteen episodes of New Classics with Rob Feenie and post-production is on time with delivery scheduled for early November. Lastly, the pilot episode of Great Markets of the World is complete. All shows, except for New Classics, are being shot in High Definition.
The Company received CDNX conditional approval to the acquisition of the Post-Digital Group of Companies and Yaletown and Post-Digital are in the process of removing the remaining conditions precedent. The Company does not foresee any impediments to closing.
INTERNATIONAL DISTRIBUTION AGREEMENT
The Company also announces that it has reached an agreement with Cargo Releasing of New York to act as international distribution agent for Weird Homes (season three), Weird Wheels and Great Markets of the World with a special mandate to secure High Definition sales for Weird Homes and Weird Wheels 2000 season and pre-sales of the 2001 season of Weird Wheels, Weird Homes and Great Markets, for all High Definition.
"An interruption in trading is never something that a company wants and we are pleased to resume trading" commented Yaletown President Mike Collier. "We remain absolutely confident that our business vision of focusing on HD production and acquiring now the necessary equipment and infrastructure will position us to be a major HD producer during the next decade."
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