Big Stick Media Corporation

Big Stick Media Corporation

January 17, 2008 18:47 ET

Big Stick Media Corporation Announces Early Warning Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2008) - Big Stick Media Corporation ("Big Stick") (TSX VENTURE:BSM) announces that Mr. James Feist, of Las Vegas, Nevada, (a director of Big Stick's wholly-owned Nevada subsidiary) has acquired ownership and control of 7,506,640 common shares of Big Stick pursuant to the issuance by Big Stick of 1,474,831 common shares in accordance with the Asset Purchase Agreement, dated November 3, 2006, with National Sports Services, Inc. Pursuant to such Agreement, Big Stick is obligated to issue a maximum of 8,511,668 common shares from treasury (each at a deemed price of $0.35) in the event the acquired assets attain pre-determined revenue targets. Such share consideration is in addition to other consideration (in the form of cash and liability assumption) amounting to a maximum aggregate purchase price consideration of $4,971,791. To date, 5,106,640 common shares have been issued to Mr. Feist in accordance with the aforementioned Agreement and he is potentially entitled to be issued an additional 3,405,028 common shares.

With his previous holdings of 6,031,809 common shares of Big Stick, Mr. Feist now holds 7,506,640 common shares which is equal to 10.8% of Big Stick's issued and outstanding common shares.

The common shares of Big Stick were acquired for investment purposes only and additional common shares may be issued (as described above) or purchased on the open market.

Big Stick is based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the trading symbol "BSM".

Contact Information

  • Big Stick Media Corporation
    Christopher Kape
    President and Chief Executive Officer
    (604) 630-6550
    (604) 608-5570 (FAX)