Look Communications Announces Return of Capital to Shareholders

    




 TORONTO, Feb. 24, 2012 /CNW/ - Look Communications Inc. ("Look" or the "Company") (NEX: LOK.H; LOK.K) today announced that it will distribute an  aggregate amount of $6,985,076.20 to the holders of its multiple voting  shares and subordinate voting shares, on a pro rata basis, as a return  of capital.  Based on the number of multiple voting shares and  subordinate voting shares outstanding on the date of this news release,  shareholders will receive $0.05 for each multiple voting share and  subordinate voting share held. 

 The record date for determining holders of multiple voting shares and  subordinate voting shares who are entitled to receive the distribution  has been fixed as March 6, 2012.  The Company expects that payment of  the distribution will be made to registered holders of multiple voting  shares and subordinate voting shares on or about March 13, 2011. 

 Forward-Looking Statements 

 Certain statements contained in this news release constitute  forward-looking information within the meaning of applicable Canadian  securities laws. The words "may", "attempt", "expect", "will" and  similar expressions are intended to identify forward-looking  information. Such information reflects Look's current views with  respect to future events and are subject to certain risks,  uncertainties and assumptions. Many factors could cause actual results  that may be expressed or implied by such forward-looking statements to  vary from those described herein should one or more of these risks or  uncertainties materialize, including, among others, Look's ability to  pay the return of capital in a timely manner or at all and the tax  consequences to any particular shareholder of the return of capital.  Except as required by law, Look does not assume any obligation to  update or revise the forward looking statements contained in this news  release to reflect actual events or new circumstances. 

 Neither the TSX Venture Exchange nor its Regulation Services Provider  (as that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

Look Communications Inc.


CONTACT:  Grant McCutcheon, Director, Look at [phone] 


    

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