June 21, 2001
NETGRAPHE INC. CHANGES ITS FINANCIAL YEAR END
Montreal, Quebec - Netgraphe Inc. announced today that it has determined to change the ending date of its financial year, for purposes of its current financial year only, from
August 31, 2001 to May 31, 2001, which will result in a 12-month fiscal period ending
May 31, 2001. Netgraphe will then change its financial year-end to December 31 on a
going-forward basis, which will result in a 7-month fiscal period ending December 31, 2001 and, thereafter, 12-month periods ending on December 31 in subsequent fiscal years.
Netgraphe's financial year end is being changed from August 31, 2001 to May 31, 2001 in order to allow shareholders to more readily compare the results of operations of its current fiscal year with those of the last period for which audited financial statements are available, being the 9-month period which ended May 31, 2000. Netgraphe will then change its financial year-end to December 31 in order to harmonize its reporting periods with those of the Canoe operations, which were merged with Netgraphe effective as of May 31, 2001, and with other major companies in the Internet sector.
Netgraphe is an Internet editor that exploits Internet business opportunities in Canada and abroad. Netgraphe operates the following portals and Web sites: La Toile du Québec (toile.com), InfiniT.com, Jobboom.com, Webfin.com, Multimedium.com, Megagiciel.com, Autonet.ca, ClassifiedExtra, MatchContact.com, Canoe.ca (English Canada), Canoë.qc.ca (French Canada), Canoë.fr (France), Micanoa.com (Spain), and eight City Sites carrying local news and community-focused content (FYI in English and ICI in French). Netgraphe also provides Web-site integration, design, production and management services. Netgraphe is listed on the Toronto Stock Exchange under the trading symbol WWW.
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Information:
Hughes Simard
President and CEO
Netgraphe Inc.
(514) 847-9155
Sylvain Paré
Vice President, Finance and CFO
Netgraphe Inc.
(514) 847-9155
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