ZOOMERMEDIA LIMITED ("ZUM")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: May 2, 2016
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation pertaining to a Purchase Agreement, dated February 5, 2016, between ZoomerMedia Limited (the "Company") and Allied Properties REIT (the "Purchaser"), whereby the Company has completed the sale of its 2.6 acre property and buildings located at 30, 64 and 70 Jefferson Avenue, Toronto, Ontario, for gross proceeds of $31,000,000.
The Company will utilize a portion of the proceeds to retire its term loan and outstanding mortgage with the Royal Bank of Canada with the remaining amount for debt reduction and working capital purposes.
For further information, please refer to the Company's news releases dated March 8, 2016 and March 29, 2016.
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