DHX MEDIA ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED EQUITY OFFERING
Not for dissemination in the United States or for distribution to U.S. newswire services and does not constitute an offer of the securities described herein
Halifax, NS – 15 April 2010 – DHX Media Ltd (TSX: “DHX”), a leading independent international producer and distributor of television programming and interactive content is pleased to announce that it has closed its previously announced equity offering. DHX sold 14,605,000 common shares (the “Common Shares”), after full exercise of the underwriters’ overallotment option, at a price of $1.30 per share for aggregate gross proceeds of approximately $19 million (the “Offering”) through a syndicate of underwriters co-led by Cormark Securities Inc. and Union Securities Ltd. and including TD Securities Inc., Beacon Securities Limited and Mackie Research Capital Corporation (collectively, the “Underwriters”).
DHX expects to use the net proceeds it receives from the Offering for general corporate purposes, potential acquisitions, possible repayment of bank indebtedness and working capital to assist DHX implementing its growth strategy, including enhancing its corporate infrastructure to support DHX’s anticipated growth and potential acquisitions.
For more information, please contact:
DHX Media Ltd. +1 902-423-0260
David A. Regan – EVP, Corporate Development & IR
About DHX Media Ltd.
DHX Media Ltd. is a leading international producer and distributor of mainly children’s television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. shares are listed on the TSX, the Toronto Stock Exchange. DHX Media’s production companies, Decode Entertainment, Halifax Film and Studio B Productions, are the producers or co-producers of 8 current original television series and theatrical releases currently commissioned for production and maintain a growing library of over 2,300 half-hours of mostly children and youth-oriented television productions.
This press release contains forward looking statements with respect to the Company. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, such statements involve risks and uncertainties and are based on information currently available to the Company. Actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause actual results or events to differ materially from current expectations, among other things, include risks related to market factors, customer contract interpretation, application of accounting policies and principles, and production related risks, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under “Risk Factors” in the Company’s short form prospectus dated April 9, 2010 and in the Company’s Amended Annual Information Form incorporated by reference therein. 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.