GVIC Publications Ltd.

August 04, 2006 19:34 ET

GVIC Publications to Release Escrow Funds

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 4, 2006) - GVIC Publications Ltd. ("GVIC Publications" or the "Company") announced today that it will release the $3.0 million of funds that were held in escrow in connection with the corporate reorganization previously announced on March 16, 2006.

$2.8 million of the funds will be received by Nventa Biopharmaceuticals Corporation ("Nventa"). In consideration for the release of the escrowed funds at this time, GVIC Publications will receive $200,000 cash, $100,000 of common shares of Nventa, and a warrant to purchase up to 250,000 common shares of Nventa at a price per share equal to $0.44 per share. Receipt of the funds is pending Toronto Stock Exchange approval of the issuance of the associated securities.

About the Company: GVIC Publications Ltd. is seeking acquisitions in the information communications industry.

Forward-Looking Statements

Certain statements in this press release are not historical and may constitute forward-looking statements reflecting financial performance. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Forward-looking statements are based on management's estimates, beliefs and opinions on the date the statements are made. The Company assumes no obligation to update forward-looking statements if circumstances should change. Additional information on these and other potential factors that could affect The Company's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.

Contact Information

  • GVIC Publications Ltd.
    Mr. Orest Smysnuik
    (604) 872-8565