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GVIC Acquires 50% Interest in InfoMine(November 10, 2011)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/10/11 -- GVIC Communications Corp. (TSX:GCT) is pleased to announce that it has acquired a 50% interest in InfoMine Inc. (www.infomine.com), a leading online provider of rich information and intelligence to the global mining industry.
Founded in 1990 and headquartered in Vancouver, B.C., InfoMine employs a staff of 94 people across seven key mining nations -- Canada, USA, Mexico, Brazil, Peru, South Africa and Australia.
InfoMine delivers its online information and services through a number of divisions including:
-- CareerMine - the largest online job board for the global mining industry with between 25,000 and 35,000 active job postings at any point in time. -- CostMine - a comprehensive source of mine cost estimating information. -- EduMine - an online "campus" with courses covering a broad array of topics and areas relevant to the mining industry. -- Companies and Properties Database - a subscription database with detailed information on thousands of mining companies and mineral properties. -- Others such as SupplyMine (an online directory of over 19,000 mining supply companies), Mining.com (a mining news site) and EquipmentMine (an online classifieds site for mining equipment and services).
The information delivered on InfoMine.com is provided through a number of "editions" and is available in English, Spanish and Portuguese.
InfoMine's experienced management team will continue to operate and grow the business. InfoMine's founder and CEO, Dr. Andy Robertson, was previously a founding partner of Steffen, Robertson and Kirsten (SRK), a leading, international mining consulting practice with over 1,000 professionals.
The investment in InfoMine further enhances GVIC's mining information presence, which represents a significant strategic opportunity. Canada is one of three global hubs in terms of mining financing, technology, education and overall activity. Through the Northern Miner group (The Northern Miner, Mining Markets, Diamonds in Canada, Canadian and American Mines Handbook), GVIC already has a strong brand and product offering in the mining information space. InfoMine substantially enhances GVIC's presence in the sector in terms of expertise, product offering, digital footprint, and global reach.
Mining information is also an important component of a broader natural resources information offering for GVIC. Through the JuneWarren-Nickle's Energy Group, the Western Producer and Farm Business Communications, GVIC offers a wide variety of information and intelligence products to parties involved in and interested in Canada's natural resources industries. The overlap in customers and information needs between the mining, oil and gas and agriculture verticals is significant. GVIC will continue to enhance existing offerings while concurrently partnering and acquiring to increasingly meet the rich information needs of clients in this space.
"We are delighted to partner with InfoMine, Andy and his talented team," said Jonathon Kennedy, President and CEO of GVIC Communications Corp. "The investment in InfoMine continues GVIC's goal of building our business information operations with particular focus on digital and rich information opportunities."
Shares in GVIC can be traded on the Toronto Stock Exchange under the symbol GCT.
About the Company: GVIC Communications Corp. is an information communications company focused on the provision of primary and essential information and related services through print, electronic and online media. GVIC Communications Corp. is pursuing this strategy through its core businesses: the local newspaper, trade information and business and professional information markets.
Forward Looking Statements
This news release contains forward-looking statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates. These forward-looking statements include statements relating to the anticipated completion of the acquisition. These forward looking statements are subject to risks, uncertainties and other factors which may cause results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, and undue reliance should not be placed on such statements.
Important factors that could cause actual results to differ materially from these expectations are listed in the Company's Annual Information Form under the heading "Risk Factors" and in the Company's MD&A under the heading "Business Environment and Risks", many of which are out of the Company's control. These factors include, but are not limited to, closing risks and risks relating to the integration of new businesses.
The forward-looking statements made in this news release relate only to events or information as of the date on which the statements are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
GVIC Communications Corp.
Mr. Mark Melville
Vice-President, Corporate Development
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