Multimedia Nova Announces an Update With Respect to Its 2011 AGM and Its Stock Option Plan

Multimedia Nova Corporation (TSX VENTURE:MNC.A) ("Multimedia") announces an
update with respect to its 2011 annual general shareholders' meeting (the "AGM")
and a correction with respect to the number of shares issuable under its stock
option plan (the "Plan").


Multimedia held its 2011 AGM on Friday, September 30, 2011 at its head office
located at 105 Wingold Avenue, Toronto, Ontario M6B 1P8 at 3:00 o'clock in the
afternoon (Toronto time). The purposes of the meeting were to table the
financial statements of Multimedia for the year ended March 31, 2011 and the
auditor's report thereon, to re-appoint auditors for the ensuing year and to
elect directors for the ensuing year. Multimedia's auditors, Soberman LLP,
Chartered Accountants, were re-appointed at the AGM. Lori Abittan, C. Patrick
Gossage, Doreen Iannuzzi and Guy Jarvis were re-elected as directors and Knox M.
Henry was elected as a new director. No other business came before the AGM.
Meeting materials for the AGM were sent to all registered and beneficial
shareholders as at August 29, 2011, directors and the auditors on September 2,
2011, all in accordance with Multimedia's by-laws and its governing corporate
statute, and were filed on SEDAR on January 26, 2012.


The Plan provides for the grant of incentive options to purchase Participating
Class A Subordinate voting shares ("Class A Shares") to directors, officers,
employees and consultants of Multimedia. There are currently no issued and
outstanding options to purchase Class A shares under the Plan. Multimedia last
received TSX Venture Exchange ("TSXV") approval of the Plan and the grant of
stock options to purchase up to 678,905 Class A Shares on October 8, 2008. Since
such date, Multimedia has not requested the TSXV to approve an increase in the
number of options which may be granted under the Plan. Multimedia received
shareholder approval for an increase in options to purchase up to 1,089,226
Class A Shares at its annual and special meeting held on September 25, 2009. The
financial statements of Multimedia for the fiscal year ended March 31, 2011 and
its interim financial statements for the fiscal periods ending June 30, 2011 and
September 30, 2011 state that Multimedia is authorized to grant options to
purchase up to 1,089,226 Class A Shares pursuant to the Plan. In the absence of
regulatory approval, the increase in stock options is not authorized. At this
time, Multimedia has decided not to seek regulatory approval for the increase
because there is no need for the increase. The disclosure in the notes to the
financial statements respecting the number of Class A shares reserved for
issuance under the Plan will be corrected in the forthcoming interim financial
statements for the fiscal quarter ended December 31, 2011.


Multimedia Nova Corporation is an integrated communications enterprise based in
Toronto, Ontario.