PNI Digital Media Inc.
TSX VENTURE : PN
OTC Bulletin Board : PNDMF

PNI Digital Media Inc.

March 11, 2010 14:54 ET

PNI Digital Media Announces Results of Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2010) - PNI Digital Media (TSX VENTURE:PN)(OTCBB:PNDMF), ("PNI" or the "Company"), the leading innovator in digital photography and media solutions for retailers, announces the results of the Company's Fiscal 2009 Annual General Meeting ("AGM") which was held March 10th, 2010 in Vancouver, Canada.

The following matters were approved by Shareholders as set out in the Information Circular that accompanied the Notice of Annual General Meeting dated February 9th, 2010:

  • The election of Messrs. Peter Fitzgerald, Peter Scarth, Cory Kent, Thomas Neilson, Scott Brownstein, Kyle Hall, Aaron Rallo and Robert Chisholm as Directors,
  • The appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as the Company's auditor until the close of the next Annual General Meeting,
  • The continuation of the Company's Share Option Plan, which must be approved annually according to TSX Venture Exchange regulations,
  • The Deferred Share Unit Incentive Plan (the "DSU Plan"), the cancellation of options to purchase 920,000 common shares currently held by Directors, officers and certain senior employees of the Company, and the subsequent grant to Insiders of the Company of options to purchase up to 380,000 common shares and DSUs for 130,000 common shares at market price at the time of the grant. After the AGM, the Board of Directors resolved to implement the DSU Plan and option cancellations, subject to the approval of the TSX Venture Exchange.

Appointment of Lawrence I. Lerner as Director
The Company is pleased to announce the appointment of Mr. Lawrence I. Lerner as Director, effective March 10th, 2010. Mr. Lerner is the change leader currently responsible for growing service lines at UST Global, a leading provider of end-to-end IT services and solutions for Global 1000 companies. His practice areas include Management Consulting, Interactive and Media Design, Business Intelligence and Data Warehousing and Business Analytics. Mr. Lerner has spent the last twenty years creating, growing and leading cutting edge Services and Strategy business units. He has successfully built profitable, multi-million dollar business units for the world's top brands. With over ten years of international business experience, Mr. Lerner is a sought after and recognized expert in the Outsourcing and Offshoring industry.

"Continuing from our solid results in Fiscal 2009, I'm excited to have Lawrence join our Board," said Kyle Hall, Chief Executive Officer of PNI Digital Media. "His proven ability to effectively manage the demands of growing companies and his direct experience working with large retailers further diversifies the strengths of our Board."

About PNI Digital Media - Founded in 1995, PNI Digital Media operates the PNI Digital Media Platform, which provides transaction processing and order routing services for major retailers. The PNI Digital Media Platform connects consumer-ordered digital content, whether from online, in-store kiosks, desktop software or mobile phones, with retailers that have on-demand manufacturing capabilities for the production of personalized products such as photos, photo books and calendars, business cards and stationery. PNI Digital Media successfully generates millions of transactions each year for retailers and their thousands of locations worldwide.

The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. PNI Digital Media's actual results could differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in technology, employee retention, inability to deliver on contracts, failure of customers to continue marketing the online solution, competition, general economic conditions, foreign exchange and other risks detailed in the Company's annual report and other filings. Additional information related to the Company can be found on SEDAR at www.sedar.com and on the SEC'S website at www.sec.gov/edgar.shtml. The information contained herein is subject to change without notice. PNI Digital Media shall not be liable for technical or editorial errors or omissions contained herein.

The TSX Venture Exchange has neither approved nor disapproved the information contained in this release. PNI Digital Media relies upon litigation protection for "forward-looking" statements.

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.

Contact Information

  • PNI Digital Media
    Simon Cairns
    Investor Relations and Press Contact
    866-544-4881
    ir@pnimedia.com