Press Releases

TORONTO, ONTARIO -- (MARKET WIRE) -- 02/09/12 -- 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.

The TSXV has neither approved nor disapproved of the contents of this press release and it does not accept responsibility for the adequacy or accuracy of the contents hereof.

Contacts:
Multimedia Nova Corporation
Ms. Lori Abittan
President and Chief Executive Officer
(416) 785-4300
(416) 785-4303 (FAX)

Multimedia Nova Corporation
Mr. Joe Mastrogiacomo
Chief Financial Officer
(416) 785-4300
(416) 785-4303 (FAX)

Source: Multimedia Nova Corporation

TORONTO, ONTARIO--(Marketwire - Feb. 9, 2012) - 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.

The TSXV has neither approved nor disapproved of the contents of this press release and it does not accept responsibility for the adequacy or accuracy of the contents hereof.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Multimedia Nova Corporation
        Ms. Lori Abittan
        President and Chief Executive Officer
        (416) 785-4300
        Fax: (416) 785-4303(FAX)

        Multimedia Nova Corporation
        Mr. Joe Mastrogiacomo
        Chief Financial Officer
        (416) 785-4300
        Fax: (416) 785-4303(FAX)

Source: Multimedia Nova Corporation

OTTAWA, ONTARIO -- (MARKET WIRE) -- 02/09/12 -- On Friday, February 10, Agriculture Minister Gerry Ritz will be available to speak to media by telephone. He will talk about his agriculture trade mission to China.

EVENT:            Media call back

DATE:             Friday, February 10

TIME:             10:00 a.m. (Ottawa)
                  11:00 p.m. (China)

CALL IN DETAILS:  North American Dial-In:
                  1-877-413-4814

                  International/Local Dial-In: +1-613-960-7526

                  PassCode: 6347135

                  Conference Title:
                  Minister Ritz' Mission to China

Media that register for the call back will receive an advisory should the time change.

Contacts:
Media Relations
Agriculture and Agri-Food Canada
Ottawa, Ontario
613-773-7972
1-866-345-7972

Source: Agriculture and Agri-Food Canada

OTTAWA, ONTARIO -- (MARKET WIRE) -- 02/09/12 -- A report from the BMO Economics Department released today states that charitable donations in Canada could be encouraged by extending the 29 per cent tax credit to all donations, not just those over $200. Currently, donations below $200 receive a 15 per cent credit.

The report was presented to the House of Commons Standing Committee on Finance during an appearance by John Waters, Vice President and Head of Technical Expertise, Wealth Group, BMO Nesbitt Burns at the committee's hearing today on tax incentives for charitable donations.

"While this would have little or no impact on large donors, we believe it will help encourage giving for more modest donors, as the marginal return would nearly double for gifts of up to $200," said Doug Porter, Deputy Chief Economist, BMO Capital Markets. "Further, the median claimed charitable donation in 2010 was $260 - versus an average of $1,437 - suggesting that many donors could benefit from such a step."

The report noted that the overall cost of this step would be less than $200 million, even if more than 1.5 million Canadians began giving more generously to charities. "Given the projected fiscal cost, we would recommend considering implementing this change only when the revenue situation is stronger and the fiscal position is closer to balance," said Mr. Porter.

"We applaud this recommendation from BMO, which we believe will help organizations like United Way broaden their base of donors," said Michele Thibodeau-DeGuire, President and Executive Director, Centraide of Greater Montreal. "It would make it much easier for donors to understand what the amount of their tax credit will be."

The full report can be downloaded at: http://www.bmonesbittburns.com/economics/reports/20120209b/SR120209.pdf.

Contacts:
For media inquiries, please contact:
Peter Scott, Toronto
(416) 867-3996
PeterE.Scott@bmo.com

Ronald Monet, Montreal
(514) 877-1873
Ronald.Monet@bmo.com

Source: BMO Financial Group