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funny the reaction.. i loaded at .035 .. escrow shares price 20 cents..
within 2 months 20 cents stock
some lunatic sold I loaded frigging shares at .035.. in March 2012
20 cents
The closing date extended to March 31, 2012.
NEWS OUT: Update on Arius3D's Agreement to Acquire Masterfile
MarketwirePress Release: Arius3D Canada Inc. and Masterfile Corporation – 1 hour 47 minutes ago
TORONTO, ONTARIO--(Marketwire -01/31/12)- Arius3D Corp. ("Arius3D" or the "Company") (TSX-V: LZR.V - News) and Masterfile Corporation ("Masterfile") announced that they have agreed to extend to March 31, 2012 the closing of the previously announced proposed acquisition by Arius3D of all of the issued and outstanding securities of Masterfile.
On August 19, 2011, Arius3D and Masterfile announced that Arius3D had entered into an agreement (the "Share Purchase Agreement") with the shareholders of Masterfile to purchase, on certain conditions, all the securities of Masterfile for CDN$21,379,580. For more details regarding the terms of the Share Purchase Agreement and related matters, please see the Company's press releases of August 19, 2011, October 31, 2011 and November 30, 2011 and the other Company filings with securities regulatory authorities since August 19, 2011 which are available under the Company's profile at www.sedar.com.
The closing date has been extended to March 31, 2012. Arius3D, supported by Masterfile, will continue the work required to complete the financing for the transaction. Masterfile has received unsolicited expressions of interest from independent third parties and may enter into discussions regarding that interest. If that or other interest is formally confirmed to Masterfile prior to Arius3D receiving a satisfactory term sheet or commitment letter with respect to the transaction financing, Masterfile may enter into a binding arrangement with such third party.
ABOUT ARIUS3D CORP.
Classified as an "Information Technology" company, Arius3D is publicly traded and listed on the TSX Venture Exchange trading under the symbol "LZR". Arius3D creates imaging solutions that allow organizations to capture and share unique physical objects in digital form. Arius3D offers 3D imaging systems and services to a growing 3D image library. The Arius3D technology supports wide ranging applications in culture and heritage, entertainment, education and product design with a primary focus of generating image license recurring revenues from rich media content. Arius3D has its head office located in Mississauga, Ontario. Visit our website at http://www.arius3d.com to understand more about the Company.
ABOUT MASTERFILE
Masterfile, headquartered in Toronto, Canada, is believed to be one of the world's largest providers of premium still images, in terms of revenues. Masterfile has an exceptional collection of stock images covering a wide range of subjects, which is stored digitally, and is showcased, licensed and delivered instantly to business clients worldwide via the Internet for advertising, design and corporate communications. Masterfile has offices in Canada, Germany, France, Italy, and the United Kingdom and operates in over 100 other countries through a network of distributors and exclusive licensees. Masterfile was created within a subsidiary of the Toronto Sun in 1981 and was sold by the Toronto Sun to its current principal owners in 1984. Since its founding, Masterfile's growth has been primarily organic, and today it has approximately 90 employees worldwide.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information and forward-looking statements (collectively "forward looking statements"), within the meaning of applicable securities laws, with respect to the closing and financing of the transactions contemplated under the Share Purchase Agreement, as amended. Such forward looking statements are based upon assumptions, and estimates made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the availability of financing, and no significant decline in existing general business and economic conditions. There can be no assurance that the transaction contemplated under the Share Purchase Agreement, as amended, will close. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward looking statements and, accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include, but are not limited to, the Company's limited financial resources and the availability of financing alternatives; changes in general economic conditions or conditions in the financial market; increased competition in the 2D stock photo industry and changes in demand for quality 2D images; as well as other risks and uncertainties which are more fully described in the Company's Management's Discussion and Analysis for the 2011 fiscal year and in other Company filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward looking statements and accordingly, readers should not place undue reliance on those statements. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Arius3D Corp.
David Beutel
Chairman
905 270 7999
dbeutel@belweather.com
www.arius3d.com
Masterfile Corporation
Steve Pigeon
President
416 929 3000
http://finance.yahoo.com/news/Update-Arius3D-Agreement-ccn-2663214550.html?x=0
thank,how many m&ms are on this?
check this link for bid ask information http://tmx.quotemedia.com/quote.php?qm_symbol=LZR
ok,thanks,fingers crossed for you.
bid was .045 and ask was .05
my platform didn't allow me..
could you post level 2?
great closed 42.85% up with 241k volume.. it is very thin
i am waiting maybe after hours we will see the news.. it must be according to the PR
Closing day today for the deal?
nice buy there, I`m not in yet. other stock is down. I have my eyes on this though.
i have order at bid
just recently i discovered
Have you been following this long ?
I will pick a few up at open.
LZR.V deal is very big..
Yep no problem. Appreciate the work you put out. Great for someone like me to learn with and hopefully grow my account balance.
Cheers
good morning thank you
Two Canadian tech firms combine in bid to dominate digital image distribution
Jameson Berkow Aug 22, 2011 – 1:43 PM ET
Noel Hendrickson/Masterfile Corp.
Noel Hendrickson/Masterfile Corp.
This stock image is one of the millions added to Toronto-based Masterfile Corp.'s collection since it was founded 30 years ago
When one Canadian digital imaging company acquires another, the motivation seems clear.
By offering $21.4-million in cash to acquire Toronto-based Masterfile Corp. late last Friday, Arius3D Corp. intends to become the world’s only digital picture distributor providing both traditional two-dimensional images and higher quality three-dimensional images. The Mississauga-based company is known for its 3D production technology while Masterfile provides access to a collection of millions of 2D stock photos.
“There is a significant opportunity in the 3D market and Masterfile is a great platform to enable Arius3D to take a leadership position in this market,” John Wood, Arius3D chief executive, said in a statement.
“The acquisition of Masterfile should enable Arius3D to commercialize its proprietary capabilities profitably and more quickly, with the objective of making the combined company a leader in the 3D segment of our industry.”
Buying Masterfile was the final act carried out by Mr. Wood as CEO of Arius3D. Effectively immediately, Mr. Wood will move to a non-executive fundraising role and Perry Monych — a former chief executive of the I.T. solutions division of General Electric and current member of Arius3D’s board of directors — will take over the top job.
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Steve Pigeon, Masterfile president, will continue as the company’s top executive following 30 years at the company’s helm. Mr. Pigeon helped to establish Masterfile as a division of the Toronto Sun in 1981 and led a consortium of employees and photographers to purchase the company from the newspaper three years later.
Today, Masterfile boasts offices in Canada, Germany, France, Italy and the United Kingdom with approximately 100 employees worldwide. The company’s collection of digital images is used for advertising, design and corporate communications purposes in more than 100 countries around the world.
Masterfile generated about $22.3-million in revenue during its most recent fiscal year with net profit coming in at about $1.5-million. Based on the value of Arius3D’s shares on the TSX Venture Exchange as of midday Monday, the Mississauga company is worth just $10.9-million.
“We believe the combination of Arius3D’s unique technology with Masterfile’s skill and experience in acquiring, marketing and licensing creative content globally provides a wonderful opportunity to build a powerful new enterprise that will benefit our clientele, contributing artists and other stakeholders around the world,” Mr. Pigeon said in a statement.
“This promises to be an exciting, challenging and hopefully rewarding adventure for all of us.”
Arius3D, which has been trading on the venture exchange under the ticker LZR since last February, expects the deal to close by Halloween 2011. Should the deal fail to close or gain necessary approvals by October 31, Arius has agreed to pay Masterfile $750,000 in termination fees.
Posted in: FP Tech Desk, Media, Software Tags: Arius 3D acquires Masterfile, Arius3D Corp., FP Tech Desk, John Wood, LZR, Masterfile, Masterfile Corp., Perry Monych, Toronto Sun
http://business.financialpost.com/2011/08/22/two-canadian-tech-firms-combine-in-bid-to-dominate-digital-image-distribution/
Arius3D to Acquire Masterfile
TORONTO, ONTARIO--(Marketwire - Aug. 19, 2011) - Arius3D Corp. ("Arius3D" or the "Company") (TSX VENTURE:LZR) and Masterfile Corporation ("Masterfile") are pleased to announce that Arius3D has entered into an agreement (the "Share Purchase Agreement") with the shareholders of Masterfile to purchase, on certain conditions, all of the issued and outstanding securities of Masterfile for a purchase price equal to CDN$21,379,580.
Masterfile
Masterfile, headquartered in Toronto, Canada, is one of the world's largest providers of premium still images, in terms of revenues. Masterfile was created within a subsidiary of the Toronto Sun in 1981 and managed by Steve Pigeon until it was sold by the Toronto Sun to Mr. Pigeon and a consortium of employees and contributing photographers in 1984. Since its founding, Masterfile's growth has been primarily organic, and today it has approximately 100 employees worldwide.
Set out below is selected financial information from Masterfile's audited financial statements for each of the fiscal years ended February 28, 2009 and 2010:
FISCAL YEAR 2010 2009
(in Canadian dollars)
Revenue 22,308,000 27,495,000
Net Income 1,516,000 197,000
Total Assets 10,478,000 11,235,000
Total Liabilities 8,311,000 10,627,000
A decline of approximately $5.2 million in revenue between fiscal years 2010 and 2009 was consistent with overall industry results and is largely attributable to the impact of the world financial crisis. Net income improved by approximately $1.3 million over that same time period despite the revenue decline. Masterfile is only now in a position to benefit from a more normalized business environment, although there continues to be pressure on operating results.
Under the terms of the Share Purchase Agreement, Masterfile has agreed to provide the Company with its audited financial statements for fiscal 2011 prior to closing.
Reasons for Transaction
With the acquisition of Masterfile, it is believed that the Company will be the only image distributor in the world offering traditional 2D images together with high resolution 3D images produced using Arius3D's world renowned technologies.
John Wood, the CEO of Arius3D stated "I believe there is a significant opportunity in the 3D market and Masterfile is a great platform to enable Arius3D to take a leadership position in this market. Masterfile is a leading player in the 2D stock photo industry and has profited from the industry's spectacular growth through more than two decades. Demand for 2D stock photo content is continuing to grow, however, crowd-sourced supply is impacting the business. As a result, combining the unique content of Arius3D with Masterfile has significant potential. Masterfile's completely redesigned website released in July 2011 is the perfect platform to showcase 3D content on the internet. Users of the new class of consumer computing devices are demanding rich and interactive content, but 2D photographs are not interactive. 3D content provides the solution and we believe the potential growth in demand for 3D content could replicate or exceed that of 2D stock photo content."
"Since 1999, Arius3D has developed proprietary, patented 3D technologies, capable of producing extraordinarily rich and interactive 3D image content. That content provides the users of the new class of computing devices with a dramatically enhanced experience. The acquisition of Masterfile should enable Arius3D to commercialize its proprietary capabilities profitably and more quickly, with the objective of making the combined company a leader in the 3D segment of our industry."
Masterfile President, Steve Pigeon adds: "We believe the combination of Arius3D's unique technology with Masterfile's skill and experience in acquiring, marketing and licensing creative content globally provides a wonderful opportunity to build a powerful new enterprise that will benefit our clientele, contributing artists and other stakeholders around the world. This promises to be an exciting, challenging and hopefully rewarding adventure for all of us."
Arius3D's business plan was to commercialize its proprietary technologies to create 3D colour images that are unique and can be utilized by many applications in multiple market segments worldwide. However, until a distribution capability for 3D images is established or negotiated, these images cannot be made available to world markets on a commercial basis. In light of the Company's limited resources, both in terms of capital and human, management believes that it may be more cost effective and expeditious to seek to establish a distribution capability in another manner. It is believed that the acquisition of Masterfile will lead to the creation of the required distribution capability, and will be a critical step in ensuring that distribution is done in a coordinated manner to maximize revenue for the image library, Arius3D and all content providers. The costs for establishing a distribution capability in this manner is expected to be substantially lower than available alternative approaches, resulting in greater returns to Arius3D for image creation – i.e. higher revenues sooner for Arius3D.
The Company will maintain the Masterfile brand and goodwill which will be necessary for Arius3D to effectively establish its distribution capability.
The Masterfile management team and personnel will continue to operate under the direction of Steve Pigeon (the founder and President of Masterfile since 1984) from its offices located in Toronto, Canada as well as in Europe.
Masterfile and its shareholders are arm's length to the Company.
John Wood
"Since Mr. Wood assumed the position of CEO of Arius3D on December 1, 2010, he has been instrumental in raising capital from third parties and has provided personal capital to the Company. In addition, he convinced Masterfile's leadership of the strategic potential of the Arius3D opportunity. I also understand that John has financed A3DL Limited, a distribution partner of the Company, in order to enable the Company to fund the Escrow Deposit (as referred to below) and thereby meet its obligations under the Share Purchase Agreement," stated Mr. David Beutel, Chairman of Arius3D. "My personal and professional support of the Company is an expression of confidence in the extraordinary potential, which I believe the combined company can achieve," stated Mr. Wood. "Now, my focus is on assisting the Company in raising the capital needed to close this acquisition and in developing new business for Arius3D. Therefore, I have informed the Arius3D Board of Directors of my resignation as CEO and as a director."
"The Company thanks Mr. Wood for making this transaction possible," stated Mr. Beutel. "John established the direction for the Company through a very difficult period, and his efforts have given the Company the opportunity to benefit from the many years it has taken to achieve this huge milestone."
The Company also announced that Perry Monych, currently a director of the Company, will assume the position of Chief Executive Officer of Arius3D. Mr. Monych brings a successful business background to the position of CEO of Arius3D. Born and raised in British Columbia, he completed an undergraduate degree at the University of British Columbia and subsequently graduated from the Harvard Business School with an MBA in Finance and Strategy. Following Harvard, Mr. Monych started his career in the savings and trust industry and then moved to the computer sector where he became VP Finance and Planning at The Hamilton Group, a public company listed on the Toronto Stock Exchange. Mr. Monych became President and CEO of GE Capital IT Solutions Canada, then President and CEO of GE Capital IT Solutions North America. He subsequently became President and CEO of GE Access' worldwide computer distribution operations and served as an officer of GE Capital. He then left GE to be President of US Operations, Tech Data, the second largest computer distributor in the world with US revenues of approximately $9 billion at that time.
Purchase Price
The purchase price in respect of the Masterfile transaction shall be payable in cash. Masterfile may however, by written notice provided to Arius3D not less than 10 business days prior to the closing date of the transaction (the "Closing Date"), direct that up to $12,000,000 of the purchase price be satisfied by Arius3D issuing and delivering up to 60,000,000 common shares in the capital of Arius3D (the "Common Shares") at $0.20 per Common Share.
The Company intends to raise the funds necessary to satisfy the cash portion of the purchase price through an agreement with an arm's length entity ("Financing Partner"). The Company is currently negotiating an agreement with Financing Partner pursuant to which (i) Financing Partner will acquire Masterfile's contractual rights to the pictures and images currently (and to be) licensed by Masterfile (the "Masterfile Library") for $20 million in cash, (ii) Masterfile will provide distribution services to Financing Partner and (iii) Masterfile and/or Arius3D will receive a participation interest in the net profits (after the payment of applicable royalties to the respective artists/licensors) to be obtained from Financing Partner in connection with the Masterfile Library. Arius3D has also entered into an agency agreement with Loewen Ondaatje McCutcheon Limited ("LOM") pursuant to which LOM has agreed to complete an equity financing on a best efforts basis. It is expected that this equity financing will close on the Closing Date and will raise sufficient funds to repay the Masterfile Loans (as referred to below) and to fund the working capital requirements of Arius3D following the Closing Date. The pricing and other terms and conditions of this equity financing have not yet been finalized.
Closing and Termination Fee
The closing of the transactions contemplated in the Share Purchase Agreement is subject to: (i) the approval of the TSX Venture Exchange (the "TSXV"); and (ii) the satisfaction of other conditions customary in transactions of this nature.
Arius3D has agreed to pay Masterfile a termination fee of $750,000 (the "Termination Fee") in certain circumstances, including if (i) Arius3D chooses not to complete the transaction if TSXV approval is not obtained or if Arius3D is not satisfied with the results of its due diligence investigation or (ii) Masterfile chooses not to complete the transaction if TSXV approval is not obtained, or if on or prior to the day which is 3 business days prior to the Closing Date written evidence is not provided to Masterfile that Arius3D has secured financing to enable it to pay the maximum amount of the cash portion of the purchase price, or if Arius3D does not provide funds to enable Masterfile to repay approximately $3 million of debt held by two lenders of Masterfile (the "Masterfile Loans").
Arius3D has deposited an amount equal to the Termination Fee (the "Escrow Deposit") into an escrow account to secure the payment of the Termination Fee.
The Share Purchase Agreement includes customary deal protection provisions, including non-solicitation obligations on the part of Masterfile. The Closing Date is expected to be October 31, 2011.
ABOUT ARIUS3D CORP.
Classified as an "Information Technology" company, Arius3D is publicly traded and listed on the TSX Venture Exchange trading under the symbol "LZR". Arius3D creates imaging solutions that allow organizations to capture and share unique physical objects in digital form. Arius3D offers 3D imaging systems and services to a growing 3D image library. The Arius3D technology supports wide ranging applications in culture and heritage, entertainment, education and product design with a primary focus of generating image license recurring revenues from rich media content. Arius3D has its head office located in Mississauga, Ontario. Visit our website at http://www.arius3d.com to understand more about the Company.
ABOUT MASTERFILE
Masterfile, headquartered in Toronto, Canada, is believed to be one of the world's largest providers of premium still images, in terms of revenues. Masterfile has an exceptional collection of stock images covering a wide range of subjects, which is stored digitally, and is showcased, licensed and delivered instantly to business clients worldwide via the Internet for advertising, design and corporate communications. Masterfile has offices in Canada, Germany, France, Italy, and the United Kingdom and operates in over 100 other countries through a network of distributors and exclusive licensees. Masterfile was created within a subsidiary of the Toronto Sun in 1981 and was sold by the Toronto Sun to its current principal owners in 1984. Since its founding, Masterfile's growth has been primarily organic, and today it has approximately 100 employees worldwide. Masterfile's revenues for its fiscal year ended February 28, 2011 was in excess of $20 million.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information and forward-looking statements (collectively "forward looking statements"), within the meaning of applicable securities laws, with respect to the closing of the transactions contemplated under the Share Purchase Agreement, the completion of an agreement with Financing Partner, the closing of the LOM financing and the ability of the Company to implement its business plan. Such forward looking statements are based upon assumptions, and estimates made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the availability of financing, and no significant decline in existing general business and economic conditions. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward looking statements and, accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include, but are not limited to, the Company's limited financial resources and the availability of financing alternatives; changes in general economic conditions or conditions in the financial market; increased competition in the 2D stock photo industry and changes in demand for quality 2D images; as well as other risks and uncertainties which are more fully described in the Company's Management's Discussion and Analysis for the 2011 fiscal year and in other Company filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward looking statements and accordingly, readers should not place undue reliance on those statements. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Arius3D Corp.
David Beutel
Chairman
905 270 7999
dbeutel@belweather.com
Masterfile Corporation
Steve Pigeon
President
416 929 3000
http://www.marketwire.com/press-release/arius3d-to-acquire-masterfile-tsx-venture-lzr-1551561.htm
more information about LZR.V http://tmx.quotemedia.com/article.php?newsid=46521587&qm_symbol=LZR
About MASTERFILE
Masterfile, headquartered in Toronto, Canada, is believed to be one of the world's largest providers of premium still images, in terms of revenues. Masterfile has an exceptional collection of stock images covering a wide range of subjects, which is stored digitally, and is showcased, licensed and delivered instantly to business clients worldwide via the Internet for advertising, design and corporate communications. Masterfile has offices in Canada, Germany, France, Italy, and the United Kingdom and operates in over 100 other countries through a network of distributors and exclusive licensees. Masterfile was created within a subsidiary of the Toronto Sun in 1981 and was sold by the Toronto Sun to its current principal owners in 1984. Since its founding, Masterfile's growth has been primarily organic, and today it has approximately 90 employees worldwide.
LZR.V buys masterfile http://www.masterfile.com/
The technology they are using : Three Dimensional Color Laser Scanner
The Arius3D three dimensional color laser scanner is based on 17 years of research by the National Research Council of Canada (NRC/CNRC) Institute for Information Technology.
The Arius3D system consists of a laser scanner and a motion control system for moving the camera. The system characterizes each measurement point according to its color and location in 3 dimensional space using the principles of high resolution, low-noise, three-color laser triangulation and optically-synchronized scanning.
Each measurement point is described by three geometric values as XYZ and three reflectance values as RGB collected simultaneously from the target surface. Scanned data is recorded and processed by proprietary software to create high-quality 3D color images of real-world objects.
http://www.arius3d.com/main.html?contentId=1
LZR.V main website http://www.arius3d.com/
LZR.V made lots of job on the Canadian Museum of Nature
http://nature.ca/en/research-collections/our-scientific-services/arius3d-imaging-centre
Arius3D Appoints Director
MarketwirePress Release: Arius3D Corp. – Thu, Dec 8, 2011 6:42 PM EST
TORONTO, ONTARIO--(Marketwire -12/08/11)- Arius3D Corp. ("Arius3D" or the "Company") (TSX-V: LZR.V - News) -
David Beutel, Chairman of Arius3D, announced today the appointment of David Campbell to the Board of Arius3D. The appointment is effective immediately Mr. Campbell has a degree in Honours Business Administration at Richard Ivey School of Business and is a Chartered Financial Analyst. Mr. Campbell has been the Chief Financial Officer of The Futura Loyalty Group Inc. since October 1, 2010. Prior to that, David was the Managing Partner of Belweather Capital Partners Inc., a merchant banking and investment firm focused on earlier stage technology companies, since November, 2007. Prior to Belweather, Mr. Campbell was the Chief Financial Officer of Hosted Data Transaction Solutions Inc. (formerly, Dexit Inc.), which develops and deploys touch screen point of sale system software and associated enterprise management tools, from October, 2001 to February, 2008. Mr. Campbell was also Chief Financial Officer of GuestLogix Inc., a provider of on-board retail technology and solutions to the passenger travel industry, from April 2007 to October 2007. He brings over 16 years of experience in strategic planning, operations, financial management, and capital markets to Arius3D.
ABOUT ARIUS3D CORP.
Classified as an "Information Technology" company, Arius3D is publicly traded and listed on the TSX Venture Exchange trading under the symbol "LZR". Arius3D creates imaging solutions that allow organizations to capture and share unique physical objects in digital form. Arius3D offers 3D imaging systems and services to a growing 3D image library. The Arius3D technology supports wide ranging applications in culture and heritage, entertainment, education and product design with a primary focus of generating image license recurring revenues from rich media content. Arius3D has its head office located in Mississauga, Ontario. Visit our website at http://www.arius3d.com to understand more about the Company.
Contact:
Arius3D Corp.
David Beutel
Chairman
905 270 7999
dbeutel@belweather.com
Arius3D Corp.
Perry Monych
CEO
905 270 7999
perry.monych@arius3d.com
www.arius3d.com
http://finance.yahoo.com/news/Arius3D-Appoints-Director-ccn-1387263518.html?x=0
Arius3D Acquires Masterfile: $ 21.3 million Deal
TORONTO, ONTARIO--(Marketwire -11/30/11)- Arius3D Corp. ("Arius3D" or the "Company") (TSX-V: LZR.V - News) and Masterfile Corporation ("Masterfile") announced that they have agreed to extend to January 31, 2012 the closing of the previously announced proposed acquisition by Arius3D of all of the issued and outstanding securities of Masterfile.
On August 19, 2011, Arius3D and Masterfile announced that Arius3D had entered into an agreement (the "Share Purchase Agreement") with the shareholders of Masterfile to purchase, on certain conditions, all the securities of Masterfile for CDN$21,379,580, and that the closing of such transaction was expected to be October 31, 2011. On October 31, 2011, Arius3D and Masterfile announced that the closing had been extended to November 30, 2011. For more details regarding the terms of the Share Purchase Agreement and related matters, please see the Company's press releases of August 19, 2011 and October 31, 2011 and the other Company filings with securities regulatory authorities since August 19, 2011 which are available under the Company's profile at www.sedar.com.
The closing of the transaction has been extended to January 31, 2012 in order to facilitate the financing efforts of Arius3D. In addition, the Company has agreed to release to Masterfile, on December 1, 2011, $300,000 that had been put in escrow in order to secure the payment of a termination fee. Arius3D has completed its due diligence investigation of Masterfile and is fully satisfied with the results thereof.
ABOUT ARIUS3D CORP.
Classified as an "Information Technology" company, Arius3D is publicly traded and listed on the TSX Venture Exchange trading under the symbol "LZR". Arius3D creates imaging solutions that allow organizations to capture and share unique physical objects in digital form. Arius3D offers 3D imaging systems and services to a growing 3D image library. The Arius3D technology supports wide ranging applications in culture and heritage, entertainment, education and product design with a primary focus of generating image license recurring revenues from rich media content. Arius3D has its head office located in Mississauga, Ontario. Visit our website at http://www.arius3d.com to understand more about the Company.
ABOUT MASTERFILE
Masterfile, headquartered in Toronto, Canada, is believed to be one of the world's largest providers of premium still images, in terms of revenues. Masterfile has an exceptional collection of stock images covering a wide range of subjects, which is stored digitally, and is showcased, licensed and delivered instantly to business clients worldwide via the Internet for advertising, design and corporate communications. Masterfile has offices in Canada, Germany, France, Italy, and the United Kingdom and operates in over 100 other countries through a network of distributors and exclusive licensees. Masterfile was created within a subsidiary of the Toronto Sun in 1981 and was sold by the Toronto Sun to its current principal owners in 1984. Since its founding, Masterfile's growth has been primarily organic, and today it has approximately 90 employees worldwide.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information and forward-looking statements (collectively "forward-looking statements"), within the meaning of applicable securities laws, with respect to the closing and financing of the transactions contemplated under the Share Purchase Agreement, as amended. Such forward-looking statements are based upon assumptions, and estimates made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the availability of financing, and no significant decline in existing general business and economic conditions. There can be no assurance that the Company will obtain sufficient financing and, therefore, that the transaction contemplated under the Share Purchase Agreement, as amended, will close. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and, accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include, but are not limited to, the Company's limited financial resources and the availability of financing alternatives; changes in general economic conditions or conditions in the financial market; increased competition in the 2D stock photo industry and changes in demand for quality 2D images; as well as other risks and uncertainties which are more fully described in the Company's Management's Discussion and Analysis for the 2011 fiscal year and in other Company filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Arius3D Corp.
David Beutel
Chairman
905 270 7999
dbeutel@belweather.com
Masterfile Corporation
Steve Pigeon
President
416 929 3000
http://finance.yahoo.com/news/Update-Arius3D-Agreement-ccn-304257565.html?x=0
Arius3D Corp. (LZR.V) is engaged in the principal business activities of Arius3D, which focuses on selling three dimensional (3D) imaging systems, or scanning units, (the Units), which produce three dimensional colour digital images, and the provision of services. The Company creates imaging solutions that allow organizations to capture and share physical objects in digital form. It three dimensional color scanner and pointstream imaging software support a range of applications in culture and heritage, entertainment, education and product design. The Company offers 3D imaging systems and services, as well as image licensing from a growing 3D image library. Its products and services include Scanning System Installation, Scanning Services, Image Library Services and Pointstream Imaging Services.
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The Arius3D Imaging Centre is recognized for the excellence and precision of its 3D models and animations. Its innovative and proprietary technology serves museums, science institutions and cultural communities across Canada and beyond.
The centre was established in 2002 at the Canadian Museum of Nature in partnership with Arius 3D. It is one of a very few 3D imaging centres in the heritage community in North America.
Controversial and important issues such as evolution, species diversity and extinction arise from the natural sciences all the time. The centre's services, in accordance with the museum's mandate, help address and communicate these complex issues.
The Arius3D Imaging Centre does 3D digitization of museum collections in order to create
Specialists at the centre can create a vast array of engaging, educational and entertaining 3D computer animations, illustrations and other multimedia products.
Cutting-edge 3D graphics and animations can be derived from 3D scans to help communicate scientific phenomena, or visualize complex research questions.
We work closely with researchers, curators, educators and designers to ensure quality and scientific accuracy.
The centre is also involved in projects that reach audiences beyond its client base. Such projects pertain to classroom education, gallery exhibitions, rigorous scientific research, outreach, universities and centres of excellence.
We can also deliver our products through popular information feeds such as television, the Internet, news and printed media.
http://nature.ca/en/research-collections/our-scientific-services/arius3d-imaging-centre
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755 The Queensway East, Unit 20
Mississauga, Ontario Canada L4Y 4C5
Tel: 905-270-7999 Fax: 905-270-6888
General Inquiries: info@arius3d.com
Sales Information: sales@arius3d.com
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