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WINNIPEG, MANITOBA–(Marketwired – June 15, 2016) – FP Newspapers Inc. (“FPI”) (TSX:FP) announces that it has received notice that the Toronto Stock Exchange (the “TSX”) is reviewing the eligibility for continued listing on the TSX of the common shares of FPI pursuant to Part VII of the TSX Company Manual. The review has been triggered by the Company’s market capitalization over recent months. FPI has been granted 120 days in which to demonstrate compliance with the continued listing requirements of the TSX, pursuant to the TSX’s Remedial Review Process.
FPI and the TSX will continue to monitor the deficiency in the Company’s market capitalization during the review period. FPI will also begin investigating the Company’s qualifications to list its common shares on the TSX Venture Exchange or other public exchanges in the event it does not comply with the TSX’s requirements.
About FPI
FPI owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership (“FPLP”). FPLP owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as the Canstar Community News division, the publisher of six community newspapers in the Winnipeg region, The Carillon in Steinbach with its related commercial printing operations and the Carberry News Express weekly publication. The Winnipeg Free Press publishes six days a week for delivery to subscribers and single copy sales, and publishes a single copy edition on Sundays. Vividata, a third party research firm, which measures newspaper readership across Canadian markets, estimates that weekly 75% of all Winnipeg adults read the print or digital edition of the Winnipeg Free Press. The Brandon Sun publishes six days a week, serving the region with an average circulation of approximately 11,050 copies. Canstar Community News publishes weekly with an average circulation of approximately 200,000 copies. The businesses employ approximately 510 full-time equivalent people in Winnipeg, Brandon, Steinbach and Carberry, Manitoba. Further information can be found at www.fpnewspapers.com and in disclosure documents filed by FP Newspapers Inc. with the securities regulatory authorities, available at www.sedar.com.
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Daniel Koshowski
CFO
FP Newspapers Inc.
(204) 771-1897
www.fpnewspapers.com
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Wed, 15 Jun 2016 22:23:22 GMT
