Montreal: Halifax-based Salter Street Films has re-acquired more than 1.2 million outstanding common shares of Salter New Media, including the common shares issued upon conversion of Salter New Media special warrants, bringing Salter Street’s ownership to 98%. Prior to the transaction, Salter Street owned 38.7 % of the shares of Salter New Media.

‘Bringing Salter New Media’s assets back into Salter Street Films allows us to focus on the webcasting properties, Q1234.com and InvestorCanada.com, that have both demonstrated promise in the marketplace, and to develop other content sites,’ says Catherine Tait, president and coo of Salter Street.

Revenue streams for the company’s entertainment-related websites remain uncertain. As such, the company says Sudhir Morar, gm of Salter New Media, will lead an accelerated rollout of a new B2B plan that leverages the Bargoon.com auction engine.

As of March 31, Salter New Media had net assets of more than $3.6 million, including cash of approximately $3 million.

ssf shares were trading in the $2.26 range on the tse at Playback press time. The stock’s year-to-date performance is -25%.

(www.salter.com)

(www.bargoon.com)

(www.Q1234.com)

(www.investorcanada.com)