The Board of Directors has approved an agreement for the sale of assets to the Federation of Students, University of Waterloo operating as the Waterloo Undergraduate Student Association (WUSA). As part of this agreement, the Imprint Board of Directors is recommending the dissolution of Imprint Publications Inc. In turn, WUSA will continue the operation of our publications under the oversight of an autonomous management board (the so-called “Board of Publications”).
The introduction of the Student Choice Initiative by the government of Ontario over the past year has resulted in the loss of a substantial part of the revenue of Imprint Publications. As a result of this, the future of the organization and its publications were put at significant risk. The Board explored multiple scenarios to try to find a way to ensure the sustainability of the organization, the publications that we house (Imprint, Quetzal, and WJES), and most importantly the student jobs and volunteer opportunities we provide.
After months of discussions and negotiations, an agreement was reached with WUSA for the sale of our assets, brands, and historical archives with the promise of their continued operations and multiple safeguards for the editorial independence of the publications. This deal will ensure that the publications and student jobs and volunteer opportunities we have provided are safeguarded. The transfer of these assets will become official on December 31, 2020.
While Imprint Publications will cease to exist as a separate entity, Imprint, Quetzal, WJES, and any future publications will continue to be fully student-owned as part of WUSA.