VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 05/16/13 — eMedia Networks International Corp. (“eMedia” or the “Company”) (TSX VENTURE: EMM), announces the TSX Venture Exchange has accepted for filing the asset purchase agreement between the Company and Stingray 360 Commercial Solutions Inc. pursuant to which Stingray will acquire the Company-s Canadian commercial accounts for a cash transaction price of $2,027,879 (subject to adjustment). The Company had previously announced the transaction on May 1, 2013. The timing of the transaction is opportune for growth in new markets including in-store messaging and on-hold messaging services, and the emergence of new and competitive technologies will facilitate expansion into new territories worldwide.
About eMedia Networks
eMedia provides custom music programming for in-store retail brands and other consumer environments. Since 1991, eMedia has provided an end-to-end audio solution for retailers that require custom selected music to play in their stores. Through its low-cost emPlayer audio product, eMedia serves over 5,000 subscribers in North America. emPlayer is a proprietary audio player capable of playing CD-quality music and custom audio content from playlists controlled on- site or remotely through the Internet. The Company trades on the TSX Venture Exchange under the symbol EMM. For more information, visit .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
eMedia Networks International Corp.
Media and Investors
Darren Reiter, CEO
+1 (604) 742-3344
eMedia Networks International Corp.
President and Founder
Jasvir Athwal, CFO
+1 (604) 742-3344
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