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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 October, 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
----- -----
(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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FORM 27
MATERIAL CHANGE REPORT UNDER SECTION 75(2) OF THE SECURITIES ACT (ONTARIO)
ITEM 1 REPORTING ISSUER
LaserMedia Communications Corp. (the "Corporation")
11 Charlotte Street
2nd Floor
Toronto, Ontario M5V 2H5
ITEM 2 DATE OF MATERIAL CHANGE
October 8, 1998
ITEM 3 PRESS RELEASE
One Press Release was published on October 22, 1998 at Toronto,
Ontario, on the ISDN Wire Service. A copy of the Press Release is
annexed hereto.
ITEM 4 SUMMARY OF MATERIAL CHANGE
Erik Schannen, President of the Corporation announced that in order
for the Corporation to meet its financial goals and objectives and
migrate from a purely research and development company to a successful
sales and marketing company, he resigned as both an officer and
director. It was announced that Richard Hue became both a director as
well as Chairman and CEO of the Corporation. Mr. Hue brings with him
over 17 years of business experience and specializes in bringing
companies such as the Corporation with proven products to market.
Other senior management changes announced included, Mr. Brian Gibson
resigning as COO/CFO to pursue other interests. Mr. Gibson will
continue to act as a consultant to the Corporation. The Corporation
announced that such changes were part of its cost cutting efforts in
order to offset the investment needed to transform it from an R&D
company into more of a sales and marketing company.
The Corporation announced that it had engaged a number of senior
management and/or advisors to assist the Corporation in executing its
plan, including:
- Aldo Baiocchi who, will act as CTO and Director of Development of
the Corporation. Mr. Baiocchi is President and CEO of Aludra Software
and was past President of "IFRONT" (a subsidiary of Microforum, a
Toronto, TSE listed company).
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- Mark Vange, who will act as CO-CTO and an Advisor of the
Corporation. Mr. Vange is CO-CTO of VR1, a developer of online games
for the Internet; and
- Michael Rabinovici, of Internet Management Services, Inc.,
will act as the Corporation's Internet Project Manager.
The Corporation is a developer and publisher of health and fitness
interactive multimedia software on CD-ROM. The Corporation developed a
"Personal Fitness Trainer" on multimedia CD-ROM called Active
Trainer(TM), the interactive elements of which permit users to
participate in, and influence, a fitness and entertainment experience
with 3-D graphics, animation and sound. The Corporation's Active
Fitness(TM) library currently consists of 4 titles: Active
Trainer(TM), Active Legs and Buns(TM), Active Abs(TM), Active Body
BLAST(TM) (Active Buns & Active Abs packaged together). Two further
Active Fitness software titles are scheduled to be released in early
1999.
The Corporation's head office is currently located in Toronto,
Ontario.
A copy of the Press Release, as annexed hereto, is incorporated
herein by reference.
ITEM 5 FULL DESCRIPTION OF MATERIAL CHANGE
See Item 4 above.
ITEM 6 RELIANCE ON SECTION 75(3) OF THE ACT
Not applicable.
ITEM 7 OMITTED INFORMATION
Not applicable.
ITEM 8 SENIOR OFFICERS
For further information contact: Richard Hue, Chairman and CEO
Telephone: (416) 977-2001
ITEM 9 STATEMENT OF A SENIOR OFFICER
The foregoing accurately discloses the material change referred to
herein.
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DATED at Toronto, Ontario, the 23rd day of October, 1998.
(Signed) RICHARD HUE
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
cc: Canadian Dealing Network Inc., via SEDAR
U.S. Securities and Exchange Commission, via EDGAR
(File No. 000-23785 - Form 6K attached)
Standard Poor's Corporations Records Service, via regular mail
LaserMedia Communications Corp., Attn: Richard Hue, via fax
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SCHEDULE A
LASERMEDIA COMMUNICATIONS CORP.
PRESS RELEASE
FOR IMMEDIATE RELEASE Press Release #15
Toronto, Ontario October 22, 1998
LASERMEDIA ANNOUNCES REORGANIZATION OF SENIOR MANAGEMENT AND ADVISORY BOARD
APPOINTEES
LaserMedia Communications Corp. (CDN: LMCD)
TRADING ON NASDAQ/OTC-BULLETIN BOARD (LZMCF)
Issued and Outstanding - 13,222,040 Common Shares
TORONTO, October 22, 1998, Erik Schannen, President of LaserMedia Communications
Corp. announces that in order for LaserMedia to meet its financial goals and
objectives and migrate from a purely research and development company to a
successful sales and marketing company, he will resign as both an officer and
director. He is pleased to announce that Richard Hue will now become both a
director as well as Chairman and CEO of LaserMedia Communications Corp. Richard
Hue brings with him over 17 years of business experience and specializes in
bringing companies such as LaserMedia with proven products to market.
"The possibilities for growth (by LaserMedia) are tremendous" states Richard
Hue, "Our business is focused on two of the largest growth industries of this
decade, health and fitness and the Internet/E-Commerce"!
Richard Hue is confident that he'll be able to lead LaserMedia's technology into
the health and fitness markets with its already tried and proven line of
interactive CD-ROMs and will soon be announcing a team of experts to carry
forward LaserMedia's "e-commerce" initiative to take advantage of the continued
explosive growth of the Internet as well as health and fitness.
Other senior management changes include, Mr. Brian Gibson who has resigned as
COO/CFO to pursue other interests but will act as a consultant to the Company.
This is all part of LaserMedia's cost cutting efforts in order to offset the
investment needed to transform it from an R&D company into more of a sales and
marketing company.
In addition, the Company has brought in a number of senior management and/or
advisors to assist the Company in executing it's plan. Joining LaserMedia will
be:
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- Aldo Baiocchi, President and CEO of Aludra Software and was past
President of "IFRONT" (a subsidiary of Microforum, a Toronto, TSE
listed company). During his tenure he was responsible for the site
receiving from 0 hits to 12 million hits/month and as V.P. of
Production for Microforum, he developed over 30 successful CD Rom
titles (including such hits as "Game Empire CD" which sold over 2
million units). He will now act as CTO & Director of Development;
- Mark Vange, CTO of VR1, the world's largest developer of online-only
games for the Internet, will act as CO-CTO and Advisor; and
- Michael Rabinovici, Internet Management Services, Inc. will act as
LaserMedia's Internet Project Manager.
LaserMedia is the first company to bring interactive Technology to health and
fitness. The Company is currently recognized as a leading developer and
publisher of health and fitness interactive multimedia software on CD-ROM.
LaserMedia developed the world's first "Personal Fitness Trainer" on multimedia
CD-ROM called Active Trainer(TM), the interactive elements of which permit users
to participate in, and influence, a fitness and entertainment experience with
3-D graphics, animation and sound. The Company's Active Fitness(TM) library
currently consists of 4 titles; Active Trainer(TM), Active Legs and Buns(TM),
Active Abs(TM), Active Body BLAST(TM) (Active Buns & Active Abs packaged
together) with a 5th and 6th title Active Planner(TM) and Active VR(TM) to be
released in early 1999.
LaserMedia's head office is located in Toronto, Ontario.
For further information, contact:
Jack Wall
Investor Relations, RT Equity Inc.
(416) 967-4779 / (888) 821-2800
THE INFORMATION HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY REGULATORY
AUTHORITIES.
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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: November 2, 1998 By: /s/ Richard Hue
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RICHARD HUE
Chairman and Chief Executive Officer
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