SOURCE: Quizam Media Corp.

Quizam Media Corp.

January 16, 2017 19:09 ET

Quizam Terminates its Relationship with Sadleir and Aviron

VANCOUVER, BC--(Marketwired - January 16, 2017) - Quizam Media Corporation ("Quizam" or "the Company") (TSX VENTURE: QQ) Quizam Media Corporation is pleased to announce that it has terminated its relationship with Aviron.

Under the terms of the agreement all elements of the October 2015 Share Exchange agreement between Quizam and Aviron and William Sadleir were reversed and in addition Aviron/Sadlier paid Quizam $66,000. More specifically the terms were as follows:

  1. 12,250,000 warrants (1,225,000 on a post consolidation basis) have been returned to Quizam. These warrants will be cancelled.
  2. 1,000,000 (100,000 on a post consolidation basis) have been returned to Quizam. These shares will be returned to treasury.
  3. 200,000 options (20,000 on a post consolidation basis) have been returned to Quizam. These options will be cancelled.
  4. The Promissory note payable to Quizam has been cancelled.
  5. Quizam's 10% interest in Aviron has been cancelled.
  6. Quizam has received $66,000.

Quizam President, Russ Rossi, commented, "We are pleased to get our stock and warrants back from Aviron. This will help to tighten the structure of our stock. Our investment in Aviron was not paying off. They were falling behind on their quarterly payments and have not acquired the rights to a single movie since our deal 15 months ago. Unfortunately they were unable to comply with the terms of their agreement with us, nevertheless we wish Sadleir and his Aviron the best of luck."

About Quizam Media (symbol QQ)
Quizam Media Corporation is in the business of training and testing. It owns On-Track Computer Training (on-track.com), ontracktv.com and Quizam Flashcard Software (quizam.com).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and nature of potential acquisitions, joint ventures, partnerships, business dealings and financings, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

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