VANCOUVER, BC / ACCESSWIRE / May 6, 2019 / The Wonderfilm Media Corporation (TSXV: WNDR) ("Wonderfilm" or the "Company") is pleased to announce that it has received support from holders of more than 71.93% of the Company's issued and outstanding common shares in the form of written consent (58.95% issue and outstanding common share support verified with the Company's transfer agent) to its proposed acquisition of entertainment companies WOL Productions and Starbury (as more particularly detailed in the April 10, 2019, release) (the "Transaction"). The majority shareholder support is intended to satisfy Wonderfilm's Board of Directors and the TSX Venture Exchange Inc (the "TSXV") condition that the Company obtain shareholder approval to the Transaction. Closing of the Transaction remains subject to TSXV acceptance.
Wonderfilm thanks its shareholders for their continued support. The consent letters for the Transaction provided by shareholders re-affirm the confidence our shareholders have in the ability of the Company's board and management team to complete the process of advancing Wonderfilm's transformation from a movie production company to a vertically integrated entertainment company.
From Mr. Kirk Shaw, "There is no better feeling for me than knowing we have our shareholder's confidence as we continue to forge the Company's future growth strategy. With the shareholders resounding, collective written support for closing the acquisitions announced last November, Wonderfilm is building its film production expertise into a broader entertainment company. This leap brings new awareness in our markets with Starbury and Grapevine - rebranding Wonderfilm productions at all budget levels and gaining incredible marketing, delivery and content creation of media and entertainment services globally."
About Wonderfilm Media
Wonderfilm is a leading publicly traded entertainment company with offices in Beverly Hills; Vancouver, Canada; and Seoul, South Korea. Wonderfilm's main business is the production of high-quality feature films and episodic television that offer international appeal through the Company's guiding philosophy of bringing new financing solutions to an entertainment industry increasingly looking for funding and co-production alternatives. Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm's length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
For further details about the Company, please see the Company's documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
Further Information
For further information, please contact:
Kirk Shaw
The Wonderfilm Media Corporation,
Chief Executive Officer
Telephone: (604) 638-4890
Email: info@wonderfilm.com
Prit Singh
Investor Relations
Telephone: 905-5107636
Email: psingh@thesiscapital.ca
SOURCE: The Wonderfilm Media Corporation
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https://www.accesswire.com/544383/Wonderfilm-Receives-Shareholder-Consent-for-Proposed-Acquisition-and-Private-Placement
