DHX Media Ltd.
TSX : DHX

DHX Media Ltd.

March 31, 2010 10:22 ET

DHX Media Announces Terms of Previously Announced Equity Offering

HALIFAX, NOVA SCOTIA--(Marketwire - March 31, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

DHX Media Ltd. (TSX:DHX), a leading independent international producer and distributor of television programming and interactive content is pleased to announce that, in connection with its previously announced public offering, it has agreed, subject to the execution of a definitive underwriting agreement expected later today, to sell 12,700,000 common shares ("Common Shares") at a price of $1.30 per share for aggregate gross proceeds of approximately $16.5 million (the "Offering") through a syndicate of underwriters co-led by Cormark Securities Inc. and Union Securities Ltd. and including TD Securities Inc., Beacon Securities Limited and Mackie Research Capital Corporation (collectively, the "Underwriters"). The Common Shares will be offered by way of a short form prospectus in each of the provinces of Canada other than Quebec, Prince Edward Island and Newfoundland and Labrador.

The Underwriters have also been granted an option to purchase up to 1,905,000 additional Common Shares, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering (the "Over-Allotment Option"). If the Over-Allotment Option is exercised in full, the aggregate gross proceeds to DHX will be approximately $19 million.

The Offering is scheduled to close on or about April 15, 2010 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.

The net proceeds of the Offering will be used for potential acquisitions and for general corporate purposes.

The Common Shares offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. 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 Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About DHX Media Ltd.

DHX Media Ltd. is a leading international producer and distributor of mainly children's television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. shares are listed on the TSX, the Toronto Stock Exchange. DHX Media's production companies, Decode Entertainment, Halifax Film and Studio B Productions, are the producers or co-producers of 8 current original television series and theatrical releases currently commissioned for production and maintain a growing library of over 2,300 half-hours of mostly children and youth-oriented television productions.

www.dhxmedia.com

Disclaimer

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, customer contract interpretation, 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 preliminary short form prospectus dated March 30, 2010 and in the Company's Amended Annual Information Form incorporated by reference therein. 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.

Contact Information

  • DHX Media Ltd.
    David A. Regan
    EVP, Corporate Development & IR
    +1 902-423-0260