TORONTO, March 7 /CNW/ - Kaboose Inc. (TSX: KAB), one of the largest
family-focused online media companies in the world, announced today that it
has filed with the Toronto Stock Exchange (the "TSX") a notice of its
intention to make a normal course issuer bid (the "NCIB") for its Common
Shares through the facilities of the TSX (the "Notice").
The Notice provides that Kaboose intends, during the twelve-month period
commencing March 10, 2008, to purchase on the TSX up to 7,012,195 Common
Shares, being approximately 5% of the 140,243,896 issued and outstanding
Common Shares of Kaboose as at March 6, 2008. The price that Kaboose will pay
for any such Common Shares will be the market price at the time of acquisition
and any Common Shares purchased under the NCIB will be cancelled. The actual
number of Common Shares that may be purchased and the timing of any such
purchases will be determined by Kaboose, subject to price, trading volume and
other market considerations. Daily purchases will be limited to 80,499 Common
Shares other than block purchases. This is Kaboose's first NCIB, accordingly,
no Common Shares have been repurchased by Kaboose in the previous 12 months.
Kaboose believes that, at current market prices and at certain times
throughout the duration of the NCIB, the purchase of its Common Shares will
contribute to enhancing shareholder value.
About Kaboose Inc.
Kaboose is one of the largest family-focused online media companies in
the world and one of the top-five most visited family destinations online.
From pregnancy to parenting, birthday parties to scrapbooking, and
entertainment to education, Kaboose has the content and applications to help
parents plan and share their family life. Kaboose owns some of the world's
leading online properties targeting families, including Bounty.com,
BabyZone.com, Kaboose.com, AmazingMoms.com, TwoPeasInABucket.com,
BubbleShare.com, BirthdayInABox.com, Funschool.com and Zeeks.com. Kaboose
trades on the Toronto Stock Exchange under the symbol "KAB."
This document may contain forward-looking statements, relating to Kaboose
Inc.'s operations or to the environment in which it operates, which are based
on Kaboose Inc.'s operations, estimates, forecasts and projections. These
statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to predict, and/or are beyond Kaboose Inc.'s
control. A number of important factors could cause actual outcomes and results
to differ materially from those expressed in these forward-looking statements.
Consequently, readers should not place any undue reliance on such
forward-looking statements. Kaboose Inc. disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
For further information:
For further information: Jonathan Pollack, Chief Financial Officer, TEL:
(416) 593-3000, FAX: (416) 593-4658