- TSX — WILD
Halifax, Canada January 29, 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 completed a non-brokered private placement of 1.875 million units (the “Units”) at a price of $0.80 per Unit with Sprott Asset Management LP on behalf of certain funds and managed accounts. The gross proceeds from the offering will be $1.5 million. Each Unit will consist of one common share and one-half common share purchase warrant.
Michael Donovan, chairman and CEO of DHX Media commented, “We appreciate this tangible vote of confidence from Sprott Asset Management LP which has an enviable track record as an early backer of winning businesses.”
Each whole warrant is exercisable into one common share at an exercise price of $1.15 (the “Exercise Price”) on or before January 26, 2012 (the “Expiry Date”).
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 television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. shares trade on AIM and 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 14 original television series and theatrical releases currently commissioned for production and maintain a growing library of over 2,200 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 November 7, 2007 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 athem to reflect new events or circumstances.