DATA Communications Management Corp. Announces Receipt of No-Action Letter from Canadian Competition Bureau
BRAMPTON, Ontario, March 29, 2023--(BUSINESS WIRE)--DATA Communications Management Corp. (TSX: DCM; OTCQX: DCMDF) ("DCM" or the "Company"), a leading provider of marketing and business communication solutions, today announced that it has received a "no-action letter" from the Canadian Competition Bureau, confirming that the Commissioner of Competition does not intend to challenge DCM’s acquisition of the Canadian operations of R.R. Donnelley & Sons Company.
The receipt of the "no-action letter" satisfies one of the conditions necessary for completion of this transaction. The transaction is expected to close in the second quarter of 2023, subject to the satisfaction of other customary closing conditions.
Additional information about the transaction can be found in the investor relations section of DCM’s website, and in the Material Change Report filed by the Company dated March 3, 2023 and available on www.sedar.com.
ABOUT DATA COMMUNICATIONS MANAGEMENT CORP.
DCM is a marketing and business communications partner that helps companies simplify the complex ways they communicate and operate, so they can accomplish more with fewer steps and less effort. For more than 60 years, DCM has been serving major brands in vertical markets including financial services, retail, healthcare, energy, other regulated industries, and the public sector. We integrate seamlessly into our clients’ businesses thanks to our deep understanding of their needs, transformative tech-enabled solutions, and end-to-end service offerings. Whether we’re running technology platforms, sending marketing messages, or managing print workflows, our goal is to make everything surprisingly simple.
Additional information relating to DATA Communications Management Corp. is available on www.datacm.com, and in the disclosure documents filed by DATA Communications Management Corp. on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
This release and associated material change report contain "forward-looking statements." Forward-looking statements can be identified by words such as: "may," "should," "intend" and "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the ability of the combined company to realize anticipated benefits from the combination of DCM and RRD Canada; and the ability of DCM to complete the proposed sales and leasebacks of certain properties.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: financial and economic conditions, changes in customer demands and our success in integrating RRD Canada.
Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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Mr. Richard Kellam
President & Chief Executive Officer
DATA Communications Management Corp.
Mr. James E. Lorimer
Chief Financial Officer
DATA Communications Management Corp.