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Look Communications Announces Agreement to Sell Milton Property

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  Published in Science and Technology on Thursday, March 17th 2011 at 14:40 GMT by Market Wire
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TORONTO, March 17 /CNW/ - Look Communications Inc. ("Look" or the "Company") (TSXV: LOK) and (TSXV: LOK.A) today announced that it has entered into an agreement to sell its current head office, network operating centre and infrastructure in Milton, Ontario, for aggregate consideration of $3,050,000. The transaction is expected to close by May 20, 2011, subject to the satisfaction or waiver of certain conditions, including satisfactory completion of the purchaser's inspection rights and completion of a phase 2 environmental assessment, if required.

"We are very pleased to announce this latest step in our ongoing strategy to preserve capital, maximize the value of the Company's remaining assets and capitalize on options for maximizing returns to the Company's shareholders," said Grant McCutcheon, Chief Executive Officer and a director of Look.

Neither the 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.