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HALIFAX, Dec. 12, 2013 /CNW/ - DHX Media Ltd. ("DHX" or the "Company")
(TSX: DHX), a leading independent creator, producer, distributor and
licensor of children's entertainment content, today announced that
Birch Hill Equity Partners Management Inc., on behalf of entities
controlled or managed by it (the "Selling Shareholders"), entered into
an agreement with a syndicate of underwriters led by Canaccord Genuity
Corp. (the "Underwriters"), providing for the purchase by the
Underwriters, on a bought deal basis, of 28,363,796 common shares of
the Company (the "Common Shares") from the Selling Shareholders at a
price of $4.70 per Common Share (the "Offering"). DHX will not receive
any of the net proceeds from the Offering.
The Company believes that the Offering will benefit all DHX shareholders
through an increased public float and enhanced trading liquidity.
The Common Shares will be offered by way of a short form prospectus to
be filed with the securities commissions and other similar regulatory
authorities in each of the provinces of Canada pursuant to National
Instrument 44-101 - Short Form Prospectus Distributions.
Closing of the Offering is currently expected to take place on January
9, 2013 and is subject to certain conditions including, but not limited
to, the receipt of all necessary approvals including the approval of
the Toronto Stock Exchange and the securities regulatory authorities.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would
be unlawful. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold in the United
States unless registered or an applicable exemption from the
registration requirements is available.
About DHX Media
DHX Media (www.dhxmedia.com) is a leader in the creation, production and licensing of family
entertainment rights. DHX Media owns, markets and distributes 9,500
half hours of children's entertainment content, and exploits owned
properties through its consumer products licensing business. DHX Media
is recognized for brands such as Yo Gabba Gabba!, Caillou, Teletubbies,
In the Night Garden, Inspector Gadget, Johnny Test and Super WHY!. DHX
Media's full-service international licensing agency, Copyright
Promotions Licensing Group, (CPLG), represents numerous entertainment,
sport and design brands. DHX Media has offices in Toronto, Los Angeles,
Vancouver, Halifax, London, Paris, Barcelona, Milan, Munich and
Amsterdam and is listed on the Toronto Stock Exchange.
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, including changing popularity of the titles
in the Company's production library, 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 14,
2013, Annual Information Form, and annual Management Discussion and
Analysis. 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.
SOURCE: DHX Media Ltd.
For further information:
David A. Regan - EVP, Corporate Development & IR