Big Stick Media Corporation
TSX VENTURE : BSM

Big Stick Media Corporation

December 01, 2009 12:32 ET

Big Stick Media Corporation Announces Its Obtaining a Working Capital Line of Credit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2009) - Big Stick Media Corporation ("BSM" or the "Company")(TSX VENTURE:BSM) announces that it has entered into a loan facility agreement (the "Line of Credit") with an affiliate of its President and Chief Executive Officer pursuant to which the Company will have the ability to borrow up to US$250,000 on an unsecured revolving line of credit basis.

The purpose of the Line of Credit is to provide BSM with the short term working capital required as it moves toward the latter stages of the 2009-2010 football season. While the Line of Credit will add to the overall debt profile of the Company, all scheduled principal and interest payments on existing debt securities have been timely made. It should be noted that during the fourth quarter of its 2009 fiscal year end of November 30, 2009, BSM paid down principal debt obligations in the approximate amount of $780,000 via the dedication of positive cash flow from operations. BSM continues to project becoming debt free by the end of its 2011 fiscal year.

Amounts outstanding from time to time under the Line of Credit facility will bear interest at a rate of five percent (5%) per annum with any accrued interest being payable by the end of each fiscal quarter end date. The principal can be repaid at the discretion of the Company at any point during the term of the facility which is available until November 30, 2011. At the end of the term of the Line of Credit, the parties will consider any extension of such term.

As at the date hereof BSM has 23,992,020 issued and outstanding common shares.

BSM is based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the trading symbol "BSM". Additional information about BSM may be found under its profile at www.sedar.com and at www.bigstickmedia.com.

About Big Stick Media Corporation

BSM owns and operates a portfolio of assets that provide fact-based and opinion oriented information relevant to the sports industry. These assets include websites, client-server software and publications. BSM generates revenues in a number of ways, including various direct to consumer services and direct to business sales through a portfolio of websites, the most significant of which are www.JimFeist.com, www.donbest.com, and www.g-picks.com. BSM also operates the Don Best Sports real-time sports information systems for serious sports enthusiasts, handicappers and bettors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

Contact Information

  • Big Stick Media Corporation
    Christopher S. Kape
    Chief Executive Officer
    (604) 630-6550 ext. 111
    chris@bigstickmedia.com