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

Knightscove Media Corp.

February 08, 2011 17:40 ET

Knightscove Media Corp. Executes Executive Services Agreement With Stephen Ellis and Consulting Agreement With Ralph Ellis Following Acquisition of Ellis Entertainment Corporation

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2011) - Knightscove Media Corp. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) ("Knightscove", "Company") is pleased to announce that former President of Ellis Entertainment Corporation ("Ellis Entertainment"), Stephen Ellis ("Stephen"), has been formally appointed Executive Vice-President of Knightscove effective January 13, 2011 for a three year term. In addition, Knightscove has also formally retained Ellis Entertainment founder Ralph Ellis ("Ralph") as a consultant to the Company effective January 13, 2011 for a term of twenty months. These appointments follow the closing of Knightscove's recent acquisition of Ellis Entertainment, which was previously announced in a press release dated January 13th 2011.

Pursuant to the terms of Stephen's executive services agreement ("Stephen's Agreement"), Stephen will help exploit the growing catalogue of content, oversee the TV content creation for factual and documentary programs and will work with Knightscove President and CEO, Leif Bristow, to administer the long form dramatic content. Further to the terms of Stephen's Agreement, the compensation to be paid by Knightscove for Stephen's services as Executive Vice-President includes a signing fee of $250,000 payable $125,000 in cash and $125,000 through the issuance of 1,041,666 subordinate voting shares ("SVS") at a price per SVS equal to $0.12. The issuance of SVS to Stephen was conditionally approved by the TSX Venture Exchange on January 25, 2011 subject to Knightscove obtaining disinterested shareholder approval of the issuances to Stephen at the Companies upcoming annual general and special meeting of shareholders. 

Pursuant to the terms of Ralph's consulting agreement ("Ralph's Agreement"), Ralph will make his services available to the Company to assist Knightscove in its plans to enter new territories. Further to the terms of Ralph's Agreement, the compensation to be paid by Knightscove for Ralph's services as a consultant includes, a signing fee equal to $175,000 payable $50,000 in cash and $125,000 through the issuance of 1,041,666 SVS at a price per SVS equal to $0.12. The issuance of SVS to Ralph received final approval from the TSX Venture Exchange on February 8, 2011. 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release or the information contained herein.

Contact Information

  • Knightscove Media Corp.
    Leif Bristow
    President and CEO
    (416) 444-7900 x222