PRESS RELEASE: PhotoChannel Networks Inc. Changes Name to PNI Digital Media Inc.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2009) - PNI Digital Media (TSX VENTURE:PN)(OTCBB:PNDMF) ("PNI" or "PhotoChannel" or the "Company"), the leading innovator in digital photography and media solutions for retailers, announced that PNI will officially change its name from PhotoChannel Networks Inc. to PNI Digital Media Inc. effective Monday June 8th, 2009.
PNI Digital Media will continue to trade on the TSX Venture Exchange (TSX-V) under the ticker symbol PN. The Company will also continue to trade on the OTCBB under a revised ticker symbol PNDMF. Both ticker symbols will be effective for the trading day June 8th, 2009.
No action is required on behalf of the shareholders.
"The change in our corporate name to PNI Digital Media reflects our long term strategic positioning of the company as we begin to transact a broader range of on-demand products across our PNI Digital Media Platform and Connected KioskTM solutions," said Kyle Hall, Chief Executive Officer of PNI Digital Media. "Our family of brands, whether it is PhotoChannel, Pixology or Works Media, will all now be rolled up into PNI Digital Media."
About PNI Digital Media - Founded in 1995, PNI Digital Media operates the PNI Digital Media Platform, which provides transaction processing and order routing services for major retailers. The PNI Digital Media Platform connects consumer ordered digital content, whether from in-store kiosks, online sites or desktop software, with retailers that have on-demand manufacturing capabilities for the production of merchandise such as photos and business documents. PNI Digital Media successfully generates millions of transactions each year for retailers and their thousands of locations worldwide. Follow us on Twitter®: @PNI_Kyle and @PNI_Yasmin.
For more information please visit www.pnimedia.com.
The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. PNI Digital Media's actual results could differ materially for those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in technology, employee retention, inability to deliver on contracts, failure of customers to continue marketing the online solution, competition, general economic conditions, foreign exchange and other risks detailed in the Company's annual report and other filings. Additional information related to the Company can be found on SEDAR at www.sedar.com and on the SEC'S website at www.sec.gov/edgar.shtml.
The TSX Venture Exchange has neither approved nor disapproved the information contained in this release. PhotoChannel relies upon litigation protection for "forward-looking" statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(First posted on Saturday, June 6, 2009 at 12:12 EDT)