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                                                                   Exhibit 10.22


                                 PROMISSORY NOTE

CAD $6,000,000                                           DUE:  DECEMBER 14, 2006


1.       PRINCIPAL AND INTEREST. For value received, Regal Greetings & Gifts
Corporation (the "Borrower") promises to pay to MDC Corporation Inc. (the
"Lender") at 45 Hazelton Avenue, Toronto, Ontario, the sum of Six Million
Dollars ($6,000,000) in lawful money of Canada, with interest as set out herein,
on December 14, 2006; provided, however, that, if the Borrower is in default
under the various loan and security agreements governing the Principal
Indebtedness, or if, after payment under this Promissory Note, the Borrower
will be in default under the various loan and security agreements governing
the Principal Indebtedness, the Borrower shall defer actual payment (but not
the right to payment) under this Promissory Note until such default is cured,
or until such time as payment can be made without resulting in the Borrower
being in default under the various loan and security agreements governing the
Principal Indebtedness, or until such time as the Lender is entitled to
enforce this Promissory Note in accordance with the Subordination and
Postponement Agreement dated as of December 14, 2001 made by MDC in favour of
the lenders in respect of whom the Principal Indebtedness is owed. The
Borrower promises to pay interest calculated on the outstanding principal
amount owing under this Promissory Note in Payment-in-Kind (as defined below)
from time to time accrued from the date of issuance of this Promissory Note
and on all Payment-in-Kind interest payments, accrued from the date of such
Payments-in-Kind, at the rate of seven per cent (7%) per annum. Interest
shall be paid, by Payments-in-Kind, quarterly in arrears on the last day of
each of January, April, July and October. "Payment-in-Kind" means additional
promises to pay to the Lender upon the same terms and conditions as apply to
the original principal amount evidenced by this Promissory Note. Subject to
earlier payment as provided in sections 2 or 3 below, the outstanding
principal balance and all Payments-in-Kind shall be paid in immediately
available funds on December 14, 2006. All principal and interest owing under
this Promissory Note are collectively referred to as the "Obligations".

2.       PREPAYMENT.

         (a)      In this section 2, the following terms shall have the
                  following meanings:

                  (i)      "Existing Cash" means all cash, cash equivalents and
                           money market instruments held by the Borrower and its
                           subsidiaries on the particular date after the payment
                           by the Borrower of any Principal Indebtedness or
                           interest payments required to be made by it on such
                           date.

                  (ii)     "Net Free Cash Flow" means at the particular time,
                           the greater of:

                           (1)      Existing Cash, less scheduled payments on
                                    account of Principal Indebtedness required
                                    to be made for the succeeding twelve month
                                    period; and


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                           (2)      net income of the Borrower during the twelve
                                    month period then ended, plus depreciation,
                                    amortization and income tax expense during
                                    such period, less scheduled payments on
                                    account of Principal Indebtedness required
                                    to be made for the succeeding twelve month
                                    period, less cash interest on the Principal
                                    Indebtedness and cash taxes paid during the
                                    twelve month period then ended, and less the
                                    amount of capital expenditures incurred
                                    during the twelve month period then ended.

                  (iii)    "Principal Indebtedness" means the indebtedness of
                           the Borrower at the particular time borrowed by the
                           Lender on the date hereof from Bank of Nova Scotia
                           and/or Roynat Capital Inc. (the "Acquisition
                           Lenders").

         (b)      In the event that on December 31, 2004, there exists Net Free
                  Cash Flow then there shall be paid to the Lender not later
                  than February 15, 2005 the lesser of:

                  (A)      Twenty Five Percent (25%) of Net Free Cash Flow; or

                  (B)      Two Million ($2,000,000) Dollars of principal amount
                           under this Note.

         (c)      In the event that on December 31, 2005 there exists Net Free
                  Cash Flow then there shall be paid to the Lender not later
                  than February 15, 2006 the lesser of:

                  (A)      Twenty Five Percent (25%) of Net Free Cash Flow; or

                  (B)      Two Million ($2,000,000) Dollars of principal amount
                           under this Note, less any amounts paid by the
                           Borrower to the Lender pursuant to section 2(b)
                           above.

         (d)      The Borrower covenants with the Lender that during the 12
                  month period ended December 31, 2004, it will not make any
                  Principal Indebtedness payments other than those which it is
                  required to make.

         (e)      Any calculations hereunder shall be made in accordance with
                  generally accepted accounting principles. The calculations
                  required to be made in order to determine any entitlement of
                  the Lender thereto shall be made as soon as practically
                  feasible following completion of the Borrower's fiscal years
                  ended December 31, 2004 and December 31, 2005, based upon the
                  Borrower's preliminary financial statements, and any required
                  adjustment shall be made upon settlement of the Borrower's
                  audited financial statement, provided that if the fiscal year
                  end is other than December 31 in any year the adjustment shall
                  be made based on the December 31 financial statements on a
                  review comment basis. Copies of all of the foregoing
                  preliminary and audited (or review comment) financial
                  statements shall be delivered to the Lender.


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3.       ACCELLERATION. Upon the enforcement of any security held by any lender
to the Borrower or if the Borrower commits an Act of Insolvency (as defined
below) the principal sum then outstanding plus all accrued and unpaid interest
shall, at the option of the Lender, become immediately due and payable without
demand or notice. An "Act of Insolvency" shall occur if the Borrower or any of
its subsidiaries: (a) institutes or is the subject of any bankruptcy,
insolvency, debt restructuring, dissolution, liquidation or similar proceedings
including proceedings for the appointment of a trustee or receiver or other
official with respect to the Borrower or any of its subsidiaries or any material
part of its property or assets; (b) makes an assignment for the benefit of its
creditors; (c) is unable or admits its inability to pay its debts as they become
due or otherwise acknowledges its insolvency or commits any other act of
bankruptcy or is taken to be insolvent under any applicable legislation; (d)
suspends transaction of business for a period of two weeks or more; or
acquiesces to or takes any action in furtherance of any of the foregoing.

4.       APPLICATION OF PAYMENTS. Payments received by the Lender pursuant to
this Promissory Note shall be applied in payment of principal.

5.       CANCELLATION OF OBLIGATIONS. In this section 5, capitalized terms
shall, if not otherwise defined in this Promissory Note, have the meanings
ascribed thereto in the Restated Asset and Share Purchase Agreement dated
December 4, 2001 between MDC Corporation Inc., Regal Greetings & Gifts
Corporation and Dreamlife Inc., as amended.

6.       SUBORDINATION. The Obligations shall be subordinate and junior in right
of payment to obligations of the Borrower to the Acquisition Lenders, is such
form as agreed with those lenders.

7.       PREPAYMENT. The principal amount of this Promissory Note may be prepaid
(together with any unpaid and accrued interest to such date) by the Borrower, in
whole or in part, without notice, bonus or penalty.

8.       WAIVER OF NOTICE. The Borrower waives presentment, protest, notice of
dishonour, days of grace and the right of set-off.

9.       SUCCESSORS AND ASSIGNS. This Promissory Note shall enure to the benefit
of the Lender and its successors and assigns, and shall be binding upon the
Borrower and its successors and permitted assigns.

10.      GOVERNING LAW AND ATTORNMENT. This Promissory Note shall be governed by
and interpreted in accordance with the laws of the Province of Ontario and the
federal laws of Canada applicable therein. Without prejudice to the ability of
the Lender to enforce this Promissory Note in any other proper jurisdiction, the
Borrower hereby irrevocably submits and attorns to the non-exclusive
jurisdiction of the courts of the Province of Ontario in connection with this
Promissory Note.

THIS PROMISSORY NOTE has been executed, sealed and delivered by the Borrower as
of the 14th day of December, 2001.


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                                            REGAL GREETINGS & GIFTS CORPORATION


                                            By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                                                             c/s
                                            By:
                                               ---------------------------------
                                               Name:
                                               Title:

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                                      -5-


                                    GUARANTEE

In consideration of Ten Dollars ($10.00) and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
undersigned hereby irrevocably, absolutely and unconditionally guarantees to the
holder, on a joint and several basis, the payment by Regal Greetings & Gifts
Corporation ("Regal") of the Obligations. This guarantee is a direct absolute
unconditional irrevocable continuing guarantee of the Obligations and is a
direct and primary obligation of the undersigned, and is in no way conditioned
or contingent upon any attempt to enforce performance upon Regal or upon any
other event, contingency or circumstances whatever. This shall be a continuing
guarantee. Lender shall not be obligated to exhaust its recourse against Regal
before being entitled to payment from the undersigned of all and every of the
Obligations. The obligations of the undersigned set forth above shall not be
subject to any deduction, diminution, abatement, set off, recoupment,
suspension, deferment, reduction, or defence and shall remain in full force and
effect without regard to, and shall not be released, discharged or in any way
affected by, any circumstance or condition whatsoever, other than full and
strict compliance by the undersigned of its obligations hereunder.

PRIMES DE LUXE                              RGG ACQUISITION INC.


By:                                         By:
   -------------------------------------       ---------------------------------
   Name:                                       Name:
   Title:                                      Title:


By:                                         By:
   -------------------------------------       ---------------------------------
   Name:                                       Name:
   Title:                                      Title: