Postmedia Announces Upcoming Change to Board of Directors

TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today announced that Vince Gasparro will not seek re-election as a director of the Company at the next annual general meeting of the Company. Gasparro, an accomplished leader who serves on the boards of the Canada Infrastructure Bank and the World Wildlife Fund Canada, has served on Postmedia’s board of directors (the “Board”) since February 10, 2021.

Peter Sharpe, Chairman of the Board, said, “Vince has informed me that he intends to run as a political candidate, and as such, will not be seeking to be re-elected as a director on our Board. I would like to thank Vince for his invaluable contributions and unwavering commitment to the Board and to Postmedia.”

“Vince is an exceptional individual and has been a valuable and thoughtful board member throughout his time with Postmedia,” said Andrew MacLeod, President and Chief Executive Officer of Postmedia. “I have known Vince for many years and appreciate his excellent leadership qualities, including his financial acumen and executive decision-making. On behalf of the Board, I wish Vince great success and all the best in his future endeavours.”

In the coming months, Postmedia will begin a search for a replacement director.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 130 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. Our expertise in home delivery and expanding distribution network powers Postmedia Parcel Services. For more information, visit www.postmedia.com, www.postmediasolutions.com and www.postmediaparcelservices.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should”, “scheduled” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include, but are not limited to, statements with respect to Mr. Gasparro’s intention to run as a political candidate and to not seek re-election as a director of the Company at its next annual general meeting, and that Postmedia will begin a search for a replacement director in the coming months. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others and without limitation: the possibility that Mr. Gasparro will not run as a political candidate and may decide to seek re-election as a director of the Company at its next annual general meeting, and that Postmedia will begin a search for a replacement director in the coming months. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2023 and 2022. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.