DHX MEDIA 1ST QUARTER PRELIMINARY RESULTS
Halifax, NS – 9 November 2007 – DHX Media Ltd. (AIM & TSX ticker: “DHX”), a leading independent international producer and distributor of television programming and interactive content, today reports certain selected financial data for the three months ended September 30, 2007. The financial data presented in this press release will be included in DHX Media Ltd.’s unaudited consolidated financial statements for the three months ended September 30, 2007, which are expected to be released on Wednesday, November 14th, 2007. All data for the three months ended September 30, 2007 included in this press release is preliminary and approximate.
DHX Media announced on October 25, 2007 that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. and including Canaccord Capital Corporation, TD Securities Inc. and Paradigm Capital Inc. to purchase on a bought deal basis 9,700,000 units (“Units”) from the Corporation at a price of C$1.80 per Unit for aggregate gross proceeds of C$17,460,000 (the “Offering”). Each Unit consists of one common share in the capital of the Corporation and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share for a period of 36 months following the closing of the Offering at an exercise price of C$2.10 per Common Share. It is anticipated that the Offering will close on November 13, 2007.
DHX Media expects to release its unaudited consolidated financial statements for the three months ended September 30, 2007 (“Q1 2008”) on Wednesday, November 14th, 2007. The Corporation expects revenues for Q1 2008 to be in the range of C$8.75 million to C$10.75 million, compared to C$3.2 million reported for the three months ended September 30, 2006 (“Q1 2007”). In addition, the Corporation expects to report positive earnings per share for Q1 2008 in the range of C$0.00 and C$0.01 versus a loss of C$0.01 per share for Q1 2007.
For more information, please contact:
DHX Media Ltd.
Dana Landry – Chief Financial Officer
David A. Regan – EVP Corporate Development & Investor Relations
AIM Nominated Advisors: Canaccord Adams Limited
+44 (0) 20-7050-6500
About DHX Media Ltd.
DHX Media Ltd. is a leading international producer and distributor of television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. is listed on AIM and on the Toronto Stock Exchange. DHX Media’s production companies, Decode Entertainment and Halifax Film, are the producers or co-producers of 11 original television series or theatrical releases currently commissioned for production and maintain a growing library of over 1,700 half-hours of mostly children and youth-oriented television productions. www.dhxmedia.com
Certain statements herein may constitute forward-looking statements, including those identified by the expressions ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘could,’’ ‘‘anticipate,’’ ‘‘believe,’’ ‘‘plan,’’ ‘‘estimate,’’ ‘‘potential,’’ ‘‘expect,’’ ‘‘intend’’ and similar expressions to the extent they relate to the Company or its Management. These statements reflect the Company’s current expectations and are based on information currently available to Management. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from current expectations, including the matters discussed under ‘‘Risk Factors’’ contained in the Company’s prospectus dated May 12, 2006. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.