OutdoorPartner Media Corporation

OutdoorPartner Media Corporation

April 24, 2007 07:45 ET

OutdoorPartner Media to Raise $5,355,000 Through Bought Deal

TORONTO, ONTARIO--(CCNMatthews - April 24, 2007) -


OutdoorPartner Media Corporation (TSX VENTURE:OPX) (the "Corporation" or "OutdoorPartner") today announced that it has entered into an agreement for a $5,355,000 bought deal financing with a syndicate of underwriters led by GMP Securities L.P. The net proceeds from the offering will be used to pursue organic growth opportunities, for working capital and general corporate purposes, and for potential future strategic acquisitions.

A total of 5,950,000 new common shares will be issued at a price of $0.90 per share. In addition, GMP Securities L.P. has been granted an overallotment option to increase the offer by 892,500 shares, which could increase the total amount raised to $6,158,250. The offering is subject to normal regulatory approvals including approval of the TSX Venture Exchangeand is expected to close on or before May 15, 2007.

The securities offered have not been 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 an 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 securities in any State in which such offer, solicitation or sale would be unlawful.

About OutdoorPartner

OutdoorPartner is a market leader in the emergent alternative out-of-home media segment. The Company operates two out-of-home media networks: a PartnerBin network and a payphone kiosk advertising network. PartnerBins - litter/recycling receptacles that facilitate advertising - are currently located in nine U.S. communities, including: New York City, St. Louis, Baltimore, and Atlanta. OutdoorPartner's payphone kiosk advertising division, Prime Point Media, offers highly-targeted advertising plus PrimeCasting - a Bluetooth broadcast solution - on a network of over 700,000 payphone kiosks located in all of the top 50 designated market areas. More information may be found by visiting www.outdoorpartner.com or www.primepointmedia.com.

Forward looking statement

This news release contains forward-looking statements regarding, among other things, OutdoorPartner's beliefs, plans, objectives, strategies, estimates, intentions and expectations. Such statements are based on a number of assumptions which may prove to be incorrect, involve certain risks and uncertainties that are difficult to predict and, accordingly, are not guarantees of future performance. The future results of the Company or developments may differ materially from those expressed in the forward-looking statements contained in this news release, due to, among other factors, OutdoorPartner's lack of operating profits, its dependence on key personnel, general economic conditions and other external events that may impact on customers' advertising spending, competition from other out-of-home advertisers and other media and government regulation seeking to limit or restrict OutdoorPartner's activities. More detailed information about these and other factors is included in OutdoorPartner's 2005 Annual Information Form and other documents published or filed by, or on behalf of, OutdoorPartner from time to time with the Canadian securities regulatory authorities. Other than as required by law, OutdoorPartner undertakes no obligation to publicly update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.

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

Contact Information

  • OutdoorPartner Media Corporation
    Mark Brodkin
    (416) 602-1602
    (416) 352-5070 (FAX)
    Website: www.outdoorpartner.com