The Company also announced it has retained
Both NOW and the Straight publish independently under the
Seven figure improvement in operating losses:
For the 3 months ending
For the 9 months ending
Strong double digit revenue gains:
For the 3 months ending
For the 9 months ending
“We are encouraged by the momentum of our year over year operating income improvement and our revenue growth rates at both the Straight and NOW,” said
The Company advised in its presentation following the Annual General Meeting of shareholders last week that it was seeking to restructure its debt in order to have a clean Balance Sheet that would better attract investment capital to support its growth plan. The Company announced it had hired investment banking firm Foundation Markets to advise the Board on the debt restructuring and potential future capital raising to support Media Central Corp.’s future growth plans.
Management believes that in the absence of restructuring its debt and raising fresh capital, the Company does not have a sustainable future.
Shareholders voted at the formal AGM in favour of the Company’s resolutions, approving the Board, Auditor and the continuation of the Stock Option Plan.
The Company also discussed its 2022 product roadmap including its “Creators” products (CreatorNews.com and CreatorsStack), its intent to develop two new digital platforms (eCommerce and Virtual Events) and its Future of Content plan.
The Company will outline its plans for CannCentral and eCentral Sports in Q1 2022.
For more information about
For further information, please contact:
kirkm@mediacentralcorp.com
Forward Looking Statements – Certain information set forth in this news release contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks related to any potential debt restructuring and/or capital raising involving the Company (including, without limitation, the terms, amounts, timing and potential completion thereof), availability of capital, risks relating to the success of the future growth strategy of the Company, and such other risk factors as are set forth in the Company’s continuous disclosure documents available on SEDAR from time to time. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update the forward looking statements contained herein other than as required under applicable securities laws.
Source:
2021 GlobeNewswire, Inc., source