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FILE NO. 000-23785
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July, 1998.
LASERMEDIA COMMUNICATIONS CORP.
11 Charlotte Street, Toronto, Ontario M5V 2H5
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b)
Not Applicable
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The attached press release announces that the company has issued a
CDN$210,656.25 convertible promissory note to Softech, an Ontario limited
partnership ("Softech"), in lieu of paying amounts currently due under the
Supply and Reseller Agreement (the "Agreement") between the parties. Under the
Agreement, Softech licensed Lasermedia to manufacture on behalf of, and purchase
from Softech, products derived from the Active Trainer(TM) line of interactive
computer software, and Softech also engaged the Company as the exclusive
reseller of Active Trainer(TM) products. The promissory note is due
November 30, 1998, and bears interest at 14% per annum. The market price of the
Company's common shares on the date of grant was CDN $0.41 per share.
References to "$" or "CDN$" are to Canadian dollars.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Lasermedia Communications Corp. has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
LASERMEDIA COMMUNICATIONS CORP.
Date: August 7, 1998 By: /s/ Robert Brian Gibson
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ROBERT BRIAN GIBSON
Chief Operating Officer,
Chief Financial Officer
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LASERMEDIA COMMUNICATIONS CORP.
PRESS RELEASE
FOR IMMEDIATE RELEASE Press Release #12
Toronto, Ontario July 20, 1998
LASERMEDIA AND SOFTECH
LaserMedia Communications Corp. (CDN: LMCD)
Issued and Outstanding - 13,222,040 Common Shares
Toronto, July 20, 1998, LaserMedia announces today that it has signed a loan
agreement with Softech, an Ontario limited partnership. In the agreement
LaserMedia will replace all monies due up to July 15, 1998 under the Supply and
Reseller Agreement dated June 27, 1997.
The loan will be evidenced by a Convertible Promissory Note in the amount of
$210,656.25 and may be converted at the option of the holder into fully paid
common shares at the rate of $0.45 per share.
The loan was made in order to allow LaserMedia to use its working capital for
carrying out its business plan.
LaserMedia's head office is located in Toronto, Ontario.
For further information, contact:
Peter Duncan or Jack Wall
Investor Relations, RT Equity Inc.
(416) 967-4779
The information herein has not been approved or disapproved by regulatory
authorities.
