VANCOUVER, May 29 /CNW/ - VRX Worldwide Inc. ("VRX") (TSX-V:VRW) is pleased to announce that, subject to regulatory approval, VRX and Sabre Holdings ("Sabre") have agreed to replace the $1,100,000 debenture entered into on January 30, 2006 with a new three year debenture that bears no interest and is convertible into common shares of VRX, at Sabre's discretion, at $0.31 per share. The $545,000 outstanding under the new debenture will be offset during the term against licensing fees incurred by Sabre under the existing content license agreement between VRX and Sabre.
VRX Studios Inc., a wholly owned subsidiary of VRX Worldwide Inc. (TSX-V:VRW) (www.vrxworldwide.com), is the world leader in producing, distributing and licensing high quality, rich media content that educates, inspires, and compels online travel consumers. Many of today's leading travel brands rely on VRX's stunning hotel, cruise and destination content to attract and engage millions of consumers each month. To find out more about VRX Studios, its products and services, visit ww.vrxstudios.com.
VRX Worldwide Inc. per "David MacLaren" David MacLaren, CEO "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."