Clairvest Announces support of revised Datamark combination agreement
Toronto, Ontario – April 25, 2007 – Clairvest Group Inc. (TSX: CVG) announced today it supports a revised Acquisition Agreement between Datamark Systems Group Inc. (TSX:DMK) and Komunik Corporation that provides for the combination of Montreal-based Komunik and Datamark previously announced February 9, 2007.
The amended terms reduce the value of cash and shares to be received by Clairvest in exchange for its 37% interest in Datamark. In total, the new agreement provides Clairvest with proceeds valued at $7.6 million, compared with $8.6 million in the original transaction.
As announced, the transaction is subject to the approval of Datamark’s shareholders, applicable regulatory and court approvals, and certain other conditions.
Details of the revised agreement are contained in a news released issued earlier today by Datamark, which is appended to this release.
About Clairvest
Clairvest Group Inc. is a Canadian merchant bank that invests its own capital, and that of third parties through Clairvest Equity Partners Limited Partnership and Clairvest Equity Partners III Limited Partnership, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.
Cautionary note about forward-looking statements
Some of the statements made in this release are forward-looking statements that involve risks and uncertainties, which may prevent expected future results from being achieved. Clairvest cautions that actual future performance could be affected by a number of factors, including technological change, regulatory change and competitive factors, many of which are beyond Clairvest’s control. Therefore, future events and results may vary substantially from what Clairvest currently foresees.
Contact information:
Cameron Williamson
CFO and Corporate Secretary
Tel: (416) 925-9270
Fax: (416) 925-5753