Company's Shares Will Continue to Trade on the
Toronto Stock Exchange
HALIFAX, Dec. 5, 2019 /PRNewswire/ - DHX Media (dba
WildBrain) ("WildBrain" or the "Company") (TSX: DHX, NASDAQ: DHXM),
a global kids' and family content and brands company, today
announced that it has notified the NASDAQ Stock Market LLC
("NASDAQ") of its intention to voluntarily delist its common voting
shares and variable voting shares (collectively, the "Shares") from
NASDAQ. WildBrain's Shares will continue to trade on the Toronto
Stock Exchange ("TSX").
With the majority of its Shares trading on the TSX, WildBrain
believes the costs and administrative requirements associated with
maintaining a dual listing are not justified at this time. The
decision to delist from NASDAQ is consistent with the Company's
previously announced cost saving efforts with a portion of these
savings to be redeployed for investing in growth areas of the
business.
WildBrain plans to file a Form 25 with the Securities Exchange
Commissions (the "SEC") and expects that its Shares will cease
trading on NASDAQ on or about December 24,
2019. Following its delisting from NASDAQ, the Company
intends to voluntarily deregister its Shares in the U.S. and cease
its public reporting obligations with the SEC. The Company's
Form 40-F for the fiscal year ended June 30,
2019 is expected to be its last publicly filed report with
the SEC. WildBrain's financial statements, press releases and
other information will continue to be available on SEDAR at
www.sedar.com and on its website at www.wildbrain.com.
About WildBrain
At WildBrain we make great content for kids and families. With
over 13,000 half-hours of filmed entertainment in our library - one
of the world's most extensive - we are home to such brands as
Peanuts, Teletubbies, Strawberry Shortcake,
Caillou, Inspector Gadget and Degrassi. Our
shows are seen in more than 150 countries on over 500 telecasters
and streaming platforms. Our AVOD business - WildBrain Spark
- offers one of the largest networks of kids' channels on YouTube,
with over 109 million subscribers. We also license consumer
products and location-based entertainment in every major territory
for our own properties as well for our clients and content
partners. Our television group owns and operates four family
entertainment channels that are among the most-viewed in
Canada. WildBrain is headquartered
in Canada with offices worldwide
and trades on the Toronto Stock Exchange (DHX) and the NASDAQ
(DHXM). Visit us at www.wildbrain.com.
On September 23, 2019, DHX
Media Ltd. announced it is rebranding as "WildBrain".
Forward-Looking Statements
This press release contains "forward-looking statements" under
applicable securities laws with respect to the Company including,
without limitation, statements regarding the Company's strategic
and operational plan, including the intention to delist from NASDAQ
and deregister the Company's Shares, as well as its reorganization
activities, expected cost savings and use of such cost savings.
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 or events 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 the ability of the Company to execute its
plan for delisting and registration and risk factors discussed in
materials filed with applicable securities regulatory authorities
from time to time including matters discussed under "Risk Factors"
in the Company's most recent Annual Information Form and annual
Management Discussion and Analysis, which also form part of the
Company's annual report on Form 40-F filed with the U.S. Securities
and Exchange Commission. 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,
except as required by law.
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SOURCE DHX Media Ltd. (dba WildBrain)