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Expiry of Arius3D's Agreement to Acquire Masterfile(March 29, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 03/29/12 -- Arius3D Corp. ("Arius3D" or the "Company") (TSX VENTURE:LZR) and Masterfile Corporation ("Masterfile") announced that the proposed acquisition by Arius3D of all of the issued and outstanding securities of Masterfile scheduled to close on March 31, 2012 will not close. The companies are now exploring alternative strategic options, which include a 3D image distribution agreement for Arius3D images by Masterfile. In addition to a distribution agreement, the two companies are evaluating various potential transactions that would further their mutual interests.
Perry Monych, CEO of Arius3D stated "Masterfile represents a unique opportunity for Arius3D and the strong management and financial performance of Masterfile over its history has reinforced our view that its existing image licensing business is a sound platform for Arius3D to work with to further our own 3D image distribution strategy. Arius3D continues to believe that a direct relationship with Masterfile is the optimal solution for both companies and every effort is being pursued to establish that relationship with the active support of Masterfile."
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.
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.
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 a relationship between Arius3D and Masterfile. 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 economic conditions. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results or outcomes 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.
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