COGECO Inc.
TSX : CGO

COGECO Inc.

March 25, 2008 09:09 ET

Release of COGECO Inc. as Guarantor of Groupe TQS

MONTREAL, QUEBEC--(Marketwire - March 25, 2008) - COGECO Inc. (TSX:CGO) announced today that it has been entirely released, without costs from its obligations as guarantor of Groupe TQS contracted on December 14, 2008, in favour of CIBC. The release of COGECO Inc. follows the repayment, by Remstar Corporation (Remstar), of all sums owed by Groupe TQS to CIBC, under the terms of a Subrogation Agreement providing for the express release of COGECO Inc. by CIBC and Remstar.

The judicial proceedings undertaken by Groupe TQS under the Companies' Creditors Arrangement Act, following the initial order rendered on December 18, 2007, are still ongoing under the supervision of the Superior Court (Commercial Division).

ABOUT COGECO INC.

COGECO is a diversified communications company. Through its Cogeco Cable subsidiary, COGECO provides approximately 2,569,000 revenue-generating units (RGUs) to 2,365,000 homes passed in its Canadian and Portuguese service territories. Through its two-way broadband cable networks, Cogeco Cable provides its residential and commercial customers with Analogue and Digital Television, High Speed Internet as well as Telephony services. Through its Cogeco Radio-Television subsidiary, COGECO owns and operates the RYTHME FM radio stations in Montreal, Quebec City, Trois-Rivieres and Sherbrooke as well as the 933 station in Quebec City. COGECO's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CGO). The subordinate voting shares of Cogeco Cable are also listed on the Toronto Stock Exchange (TSX:CCA).

Contact Information

  • COGECO Inc.
    Marie Carrier
    Director, Corporate Communications
    514-874-2600