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PNI Petroreal Energy (Tier2)

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Share Name Share Symbol Market Type
Petroreal Energy (Tier2) TSXV:PNI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

PNI Announces Granting of Interim Order for Proposed Arrangement

03/06/2014 7:01pm

Marketwired Canada


PNI Digital Media Inc. ("PNI") (TSX:PN)(OTCQX:PNDMF) the leading innovator in
digital media solutions for retailers, is pleased to announce that the Supreme
Court of British Columbia has granted an interim order (the "Interim Order") in
respect of PNI's previously announced arrangement (the "Arrangement") with
Staples, Inc. ("Staples") pursuant to which Staples will acquire, through its
wholly-owned subsidiary Staples Canada Acquisition ULC, all of the issued and
outstanding common shares of PNI for $1.70 in cash per common share. The Interim
Order provides for, among other things, the calling and holding of a special
meeting (the "Special Meeting") of shareholders of PNI to consider and approve
the Arrangement. The granting of the Interim Order was a condition to the
completion of the Arrangement. 


PNI Shareholders' Meeting

The Special Meeting is scheduled to be held at Suite 1500 - 1055 West Georgia
Street, Vancouver, British Columbia on July 8, 2014 at 9:00 a.m. (Vancouver
time) to consider the Arrangement. The record date for the Special Meeting is
June 4, 2014. 


The Arrangement will be subject to approval by 66 2/3% of the votes cast by PNI
shareholders present in person or represented by proxy at the Special Meeting.
In addition, as the Arrangement constitutes a "business combination" pursuant to
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"), the Arrangement must also be approved by a
simple majority of the votes cast at the Special Meeting, excluding the votes
cast by any PNI shareholders that are required to be excluded in order to obtain
"minority approval" pursuant to MI 61-101. 


A Notice of Special Meeting and a Management Information Circular (the
"Circular") for PNI will be provided to securityholders shortly. A copy of the
Circular will also be available under PNI's profile on SEDAR at www.sedar.com. 


About PNI Digital Media

PNI Digital Media operates the PNI Digital Media Platform, which provides
transaction processing and order routing services for major retailers. The PNI
Digital Media Platform connects consumer-ordered digital content, whether from
online, in-store kiosks, desktop software or mobile phones, with retailers that
have on-demand manufacturing capabilities for the production of personalized
products such as photos, photo books, photo calendars, business cards and
stationery. PNI Digital Media successfully generates millions of transactions
each year for retailers and their thousands of locations worldwide. 


Further information on our company can be found at www.pnimedia.com. 

The statements that are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties, including those
related to the completion of the Arrangement and the expected timing therefor.
PNI Digital Media's actual results could differ materially from those expressed
or implied by such forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to shareholder and
final court approvals, changes in technology, employee retention, inability to
deliver on contracts, failure of customers to continue marketing the online
solution, competition, general economic conditions, foreign exchange and other
risks detailed in the Company's annual report and other filings. Additional
information related to the Company can be found on SEDAR at www.sedar.com and on
the SEC'S website at www.sec.gov/edgar.shtml. The information contained herein
is subject to change without notice, and PNI does not undertake any obligation
to publicly update or revise any forward-looking statements, except as required
by law. PNI Digital Media shall not be liable for technical or editorial errors
or omissions contained herein.


Neither TSX nor its Regulation Services Provider (as that term is defined in the
policies of the TSX) accepts responsibility for the adequacy or accuracy of this
release. PNI Digital Media relies upon litigation protection for
"forward-looking" statements. 


PNI Digital Media is a registered trademark of PNI Digital Media Inc.

FOR FURTHER INFORMATION PLEASE CONTACT: 
TMX Equicom
James Binckly
(416) 815-0700 x228
jbinckly@tmxequicom.com


PNI Digital Media Inc.
Cameron Lawrence
(604) 893-8955 x229
ir@pnimedia.com
www.pnimedia.com

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