Knightscove Media Corp.
TSX VENTURE : KC.A
TSX VENTURE : KC.B

Knightscove Media Corp.

March 13, 2009 17:00 ET

Knightscove Media Corp. Announces Issuance of Shares to Directors and Insiders

TORONTO, ONTARIO--(Marketwire - March 13, 2009) - KNIGHTSCOVE MEDIA CORP. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) ("Company", "Knightscove" www.knightscove.com). Consistent with previous years, Knightscove's Board of Directors and President announce that they will receive shares of the Company for services provided. Knightscove has issued 166,667 subordinate voting shares to each of the four independent directors sitting on its Board in 2008 in reference to director fees of $12,500. The Chairman of the Board will receive an additional 66,666 subordinate voting shares (or $5,000) for acting as the head of the Board. Leif Bristow, President and CEO, will receive 1,329,293 multiple voting shares as payment of deferred salary due in the amount of $99,697. Additionally, the Corporation will issue 200,000 subordinate voting shares to a consultant, Paul Hamadeh ("PH"), in reference to consulting fees of $27,000. With the exception of PH, in each case the shares issued will be issued at a deemed price of $0.075 per share. In the case of PH, the shares will be issued at a deemed price of $0.135 per share.

The Company secured disinterested shareholder approval of the above noted issuance of shares during its annual shareholder's meeting held on October 10, 2008. For further information, please see Knightscove's Information Circular filed on SEDAR. All of the shares issuance remain subject to acceptance of the TSX Venture Exchange and compliance with all applicable securities laws. The shares will be subject to a 4-month hold period from the date of issuance.

Knightscove trades on the TSX Venture Exchange under the ticker symbols KC.A and KC.B. After issuance of the above shares there will be 11,579,809 subordinate voting shares (KC.A) outstanding and 11,077,197 multiple voting shares (KC.B) outstanding. Additional information regarding the business of Knightscove may be found filed on SEDAR at www.sedar.com.

About Knightscove and Morningstar:

Knightscove Media Corp. along with its wholly owned subsidiaries, Morningstar Entertainment Inc. and Knightscove Family Films Inc., is an integrated Canadian entertainment company specializing in the distribution, acquisition and creation of high quality live-action feature films and television productions for the whole family.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Knightscove Media Corp.
    Leif Bristow
    President and CEO
    (416) 444-7900 x222
    or
    Knightscove Media Corp.
    Annette Grot
    VP Finance
    (416) 444-7900 x231
    Website: www.knightscove.com