eMedia Networks International Corp.

eMedia Networks International Corp.

August 14, 2009 14:24 ET

Chinook Financial Ltd. Acquires Additional Position in eMedia Networks International Corp.

CALGARY, ALBERTA--(Marketwire - Aug. 14, 2009) - Chinook Financial Ltd. (the "Offeror") - Further to disclosure requirements of applicable securities laws, Chinook Financial Ltd. (the "Offeror") wholly owned by David Mears, an officer and director of eMedia Networks International Corporation (TSX VENTURE:EMM) (the "Issuer") reports that pursuant to trades conducted on the TSX Venture Exchange since July 30, 2007, the Offeror has acquired ownership of an additional 321,000 common shares ("Shares") of the Issuer. The shares acquired represent approximately 1.5% of the issued and outstanding Shares of the Issuer. Prior to these transactions, the Offeror held an aggregate of 2,943,500 Shares (13.6% of the outstanding Shares of the Issuer) and options to purchase an additional 170,000 Shares upon exercise of stock options (the "Options") in the capital of the Issuer, representing approximately 15.8% on a partially diluted basis assuming the exercise of the Options.

Following these transactions, the Offeror holds an aggregate of 3,244,500 Shares (15.01% of the outstanding Shares of the Issuer) and Options to purchase an additional 170,000 Shares of the Issuer. If the Offeror was to exercise all of the Options, it would represent a total of 3,434,500, or approximately 15.8% of the issued and outstanding capital of the Issuer calculated on a partially diluted basis assuming the exercise of the Options.

The securities were acquired through the facilities of the TSX Venture Exchange. The securities were acquired for investment purposes only. Depending on economic or market conditions or matters relating to the Issuer, the Offeror may choose to either acquire additional securities or dispose of securities of the Issuer.

This press release is issued pursuant to Multilateral Instrument 62-103 which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Issuer's documents on the SEDAR website, at www.sedar.com.

Neither the 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

  • eMedia Networks International Corp.
    Darren Reiter
    (604) 742-3344