RICHMOND HILL, ONTARIO -- (Marketwired) -- 02/05/16 -- BFS Entertainment & Multimedia Limited (TSX VENTURE: BFS) ("BFS" or the "Company") of Richmond Hill, Ontario regretfully announced today that after 36 years, it is ceasing operations due to ongoing losses and poor sales arising primarily from the accelerated migration within the entertainment industry from DVDs to digital downloads.
The Company is in breach of banking covenants relating to its credit facility, the Company is in discussions with its bank and will decide on the most appropriate course of action.
Neither TSX Venture Exchange nor its Regulation Services Providers (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(SEC Rule 12g exemption #82-4245)
Contacts:
BFS Entertainment & Multimedia Limited
Contact: ir@bfsent.com
