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HALIFAX, Dec. 11, 2019 /CNW/ - DHX Media Ltd. (dba WildBrain) ("WildBrain" or the "Company") (TSX: DHX, NASDAQ: DHXM) announced additional information regarding insider participation in the Company's rights offering that closed on November 22, 2019 (the "Rights Offering").
In total, 35,928,144 common and variable voting shares ("Shares") were issued under the Rights Offering to raise $60.0 million in gross proceeds. Insiders purchased over 53% of the total number of Shares issued.
Pursuant to the basic subscription privilege under the Rights Offering, 23,145,078 Shares were issued, with Company insiders acquiring 10,802,451 of the basic subscription Shares. Pursuant to the additional subscription privilege under the Rights Offering, 12,783,066 Voting Shares, with Company insiders acquiring 8,404,570 of the additional subscription Shares.
At WildBrain we make great content for kids and families. With over 13,000 half-hours of filmed entertainment in our library – one of the world's most extensive – we are home to such brands as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget and Degrassi. Our shows are seen in more than 150 countries on over 500 telecasters and streaming platforms. Our AVOD business – WildBrain Spark – offers one of the largest networks of kids' channels on YouTube, with over 109 million subscribers. We also license consumer products and location-based entertainment in every major territory for our own properties as well for our clients and content partners. Our television group owns and operates four family entertainment channels that are among the most-viewed in Canada. WildBrain is headquartered in Canada with offices worldwide and trades on the Toronto Stock Exchange (DHX) and the NASDAQ (DHXM). Visit us at www.wildbrain.com.
On September 23, 2019, DHX Media Ltd. announced it is rebranding as "WildBrain".
This press release contains "forward-looking statements" under applicable securities laws with respect to the Company including, without limitation, statements regarding the business strategies and operations of 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 or events 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 the risk factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under "Risk Factors" in the Company's most recent Annual Information Form and annual Management Discussion and Analysis, which also form part of the Company's annual report on Form 40-F filed with the U.S. Securities and Exchange Commission. 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, except as required by law.