Newcap receives CRTC approval to sell CISL in Vancouver

DARTMOUTH, NS, May 26, 2017 /CNW/ – Newfoundland Capital Corporation (the “Company”) (TSX: NCC.A NCC.B) announced today that its wholly-owned subsidiary, Newcap Inc., has received approval from the Canadian Radio-television and Telecommunications Commission (“CRTC”) to sell CISL, its AM station in Vancouver, British Columbia. This transaction, previously announced April 25, 2017, is expected to close within 90 days.

About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A NCC.B) owns and operates Newcap Radio which is one of Canada’s leading radio broadcasters with 94 licences across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.

This press release contains forward looking statements. These forward-looking statements are based on current expectations. The use of terminology such as “expect”, “intend”, “anticipate”, “believe”, “may”, “will”, “should”, “would”, “plan” and other similar terminology relate to, but are not limited to, our objectives, goals, plans, strategies, intentions, outlook and estimates. By their very nature, these statements involve inherent risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed in such forward-looking statements. As a result, there is no guarantee that any forward-looking statements will materialize and readers are cautioned not to place undue reliance on these statements. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.