Medbroadcast Investment

CanWest Global Communications Corporation (CanWest) announced on March 21, 2000 that it will make a $20 million investment (with warrants to purchase an additional interest) in Medbroadcast Corporation, the medical Web-site company created from Murray Pezim’s former mining company. The money will be injected through a combination of cash and airtime on the Global Television Network and globaltv.com, in exchange for 32 per cent of Medbroadcast Corporation, making CanWest the largest single shareholder. Additional provisions will enable CanWest to increase its position to 40 per cent of the company. Kevin Morris and Nicole Rosenberg of Torys acted for CanWest. Charlotte Bell of Catalyst Corporate Finance Lawyers in Vancouver acted for Medbroadcast.