Komunik Corporation
TSX : KOM

Komunik Corporation

August 27, 2007 07:30 ET

Komunik to Acquire Globel Direct

MONTREAL, QUEBEC--(Marketwire - Aug. 27, 2007) - FOR IMMEDIATE RELEASE - NOT FOR DISTRIBUTION IN THE UNITED STATES

Komunik Corporation ("Komunik")(TSX:KOM), a publicly-traded company, head-quartered in Montreal, and Globel Direct, Inc. ("Globel")(TSX VENTURE:GBD), a publicly-traded Calgary-based Company announced today that they have entered into a Plan of Arrangement Agreement providing for the acquisition by Komunik of all the issued and outstanding shares of Globel in consideration for the sponsorship and the funding of a plan of arrangement to be proposed to Globel's creditors pursuant to the Companies Creditors Arrangement Act by (i) the issuance to creditors and common shareholders of Globel of approximately 490,000 common shares of Komunik ("Komunik Shares") and 350,000 warrants to purchase Komunik Shares at an exercise price of $2.80 per share expiring 36 months following the closing date; (ii) the payment of approximately $3.7 million in cash to creditors of Globel and up to an additional $500,000 to management creditors of Globel payable in cash and/or Komunik Shares as determined by Komunik.

The closing of the transaction is subject to the approval of Globel's creditors, applicable regulatory and court approvals, and the satisfaction of certain customary conditions. The transaction is expected to close on or about October 12, 2007.

The acquisition by Komunik of Globel represents the latest strategic expansion of Komunik in the rapidly growing sector of Communication Resource Management. The move is an element of Komunik's plan to grow its direct marketing and relationship marketing activities in western Canada. Globel brings additional capacity to the company's nationwide service offering in the increasingly significant direct mail and transactional print segment, in light of Globel's strength in digital print, mail preparation, and document distribution. The acquisition also provides Komunik with a highly complementary call centre infrastructure available through Globel.

"This acquisition is a great investment in the enhancement of our coast-to-coast value proposition for our clients," said Mr. Alain Paquin, President and CEO of Komunik. "Our first priority will be to enable Globel to integrate its digital print expertise with interactive marketing, e-mail marketing, and multi-channel marketing automation. In bringing this established expertise to Globel, we thereby provide a more comprehensive offering of services to Globel's clientele - and we anticipate significant growth in western Canada as a result."

At present, Komunik operates a distribution centre and plant in Calgary, as well as sales offices in Edmonton and Vancouver. Globel has plants in Calgary, Edmonton and Vancouver. Cost efficiencies are expected to be gained through consolidation of these facilities in each city.

"We are excited by the opportunities that this Agreement with Komunik has created for Globel and its people," said Mr. J.R. Richardson, President of Globel. "What we have achieved for Globel's clients is a wider array of solutions in relationship marketing and document outsourcing. We have accomplished an effective integration of the entire gamut of media in our service offering. By combining with Komunik, Globel will have the resources required to expand to meet the future needs of its clients and continue to provide new and improved service offerings."

Globel earned revenues of $7.8 million last year, and employs 72 people in Alberta and British Columbia. Komunik is studying further acquisition possibilities.

About Komunik Corporation

Komunik is a leading provider of end-to-end solutions for Communication Resource Management. Through innovation and a nation-wide infrastructure, Komunik helps its clients increase the return on their investment. Komunik develops best of class technology, and provides expertise and support for document Management, multi-channel relationship marketing and overall print services. For more information about Komunik visit www.komunik.com.

About Globel Direct

Globel is a leading provider of business communications solutions that help organizations inform, educate, service and attract customers more effectively and efficiently. The Company's solutions integrate its expertise in out-sourced marketing, billing, customer support and fulfillment with specialized equipment, proven technologies, and a multi-site delivery infrastructure that enables its clients to target the right audience, in the right format, at the right time and at the right price. For more information about Globel Direct visit www.globel.com.

Cautionary note about forward-looking statements

Some of the statements made in this release may constitute forward-looking information or statements within the meaning of securities laws. These statements are based on certain factors and assumptions, which Komunik and Globel believe are reasonable as of the current date. While Komunik and Globel consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Komunik and Globel caution that actual future performance could be affected by a number of factors, including technological change, regulatory change and competitive factors, many of which are beyond Komunik's and Globel's control. Therefore, future events and results may vary substantially from what Komunik and Globel currently foresee. While Komunik and Globel may elect to, they are under no obligation (and expressly disclaim any such obligation) and do not undertake to update or alter this information.

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