Toronto, August 9, 2022 /PR Newswire/ – Chorus Entertainment Inc. (“Corus” or “Company”) (TSX: CJR.B) today announced that the Toronto Stock Exchange (“TSX”) has filed a We have announced that we have received the notification. This amendment increases the maximum number of Class B Non-Voting Shares that may be repurchased from 9,669,705 Class B Non-Voting Shares, representing approximately 5% of the Company’s current “public shares.” January 3, 2022representing 19,339,410 Class B non-voting shares, approximately 10% of our current “public shares” January 3, 2022Daily repurchases are limited to a maximum of 231,935 shares of Class B non-voting stock. This represents 25% of his average daily trading volume for the six months that ended. December 31, 2021 (927,743 Class B nonvoting shares), unless the purchase is made pursuant to the “Block Purchase Exception” of the TSX Rules. No other terms of the NCIB have been amended.
Purchase by NCIB has started January 17, 2022 end at the latest January 16, 2023, TSX, other designated exchanges, and/or through regular course purchases made through the premises of Canada’s Alternative Trading Systems. Under the current NCIB, July 27, 2022the Company repurchased 7,646,900 Class B non-voting shares at a weighted average price $4.30.
While the macroeconomic environment is likely to be challenging in the short to medium term in determining the NCIB’s amendments, the market price of non-voting Class B stocks sometimes does not fully reflect their long-term investments. We believe it is possible. – period value. Accordingly, the purchase of the non-voting Class B shares is in the Company’s best interests and represents an attractive and appropriate use of available funds. Although we have a present intention to acquire non-voting Class B shares pursuant to the NCIB, we are not obligated to make any purchases and purchases may be terminated by us at any time.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information and should be read in accordance with the following cautionary statements.
To the extent statements made in this press release contain information that is not historical information, these statements are forward-looking statements and are not “forward-looking information” within the meaning of applicable securities laws. (collectively, “forward-looking information”). This forward-looking information relates, among other things, to statements relating to future purchases of the NCIB and Class B non-voting shares under the NCIB and generally uses words such as “believe”, “anticipate” and the like. It can be identified using words. “, “expect”, “inend”, “plan”, “will”, “may”, and other similar expressions; and statements referring to expectations, predictions, or other characterizations of future events or circumstances may be considered forward-looking information and, while Corus believes that the expectations reflected in such forward-looking information are reasonable, such information includes assumptions, risks, and , contain uncertainties and undue reliance should not be placed on such statements Certain important factors or assumptions apply with respect to forward-looking information, including new competition and General industry outlook and factors and assumptions relating to the general outlook, including the potential impact of industry mergers and acquisitions, interest rates, advertising, distribution, product and subscription market stability, operating and capital costs and tariffs; that taxes and fees, our ability to source desired content, and our capital and operating results match expectations, and that actual results may differ materially from those expressed or implied by such information; Important factors that could cause actual results to differ materially from these expectations include, among others: audience acceptance of our television programming and cable networks; the ability to recover costs, the availability of tax credits, and the existence of co-creation treaties;the ability of the Company to compete in any of the industries in which it operates; entertainment and information and telecommunications industries and their technological developments;changes in laws or regulations, or the interpretation or application of such laws and regulations;integration and realization of anticipated benefits from acquisitions to effectively grow. our ability to manage to our ability to successfully defend against lawsuits or complaints our failure to meet covenants under our senior credit facility or senior unsecured notes our Epidemic, pandemic or other public health crisis.Additional information regarding these factors, and regarding the material assumptions underlying the forward-looking information, is the result of management’s discussion and analysis for the year ended. It is listed under the heading “Risk and Uncertainty”. August 31, 2021 Under the heading “Risk Factors” on the Company’s Annual Information Form. Corus cautions that the preceding list of important assumptions and factors that may affect future results is not exhaustive. Investors and other parties should carefully consider the aforementioned factors and other uncertainties and potential events when relying on our forward-looking information to make decisions about Corus. there is. Unless otherwise specified, all forward-looking information in this document speaks as of the date of this document. Unless otherwise required by applicable securities laws, Corus disclaims any intention or obligation to publicly update or revise any forward-looking information. whether as a result of new information, events or circumstances occurring after that date or for any other reason.
About Chorus Entertainment Inc.
Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops and distributes high-quality brands and content across platforms for a global audience. Captivating audiences since 1999, the company’s portfolio of multimedia products includes 33 specialty television services, 39 radio stations, 15 traditional television stations, a suite of digital and streaming assets, animation software, technology and media services. It is included. Corus is an internationally renowned animation studio through his Nelvana, his expert in all forms of animation, and Corus Studios, a globally recognized producer of scripted and unscripted hits. Content is his creator and distributor. The company also owns innovative full-service social digital agency so.da, lifestyle entertainment company Kin Canada, leading 2D animation software supplier Toon Boom, and children’s book publisher Kids Can Press. Corus’ premium brands include Global Television, W Network, HGTV Canada, Food Network Canada, Magnolia Network Canada, The HISTORY® Channel, Showcase, Adult Swim, National Geographic, Disney Channel Canada, YTV, Global News, Globalnews.ca, In addition to Q107, Country 105 and CFOX, it will also include widely distributed Canadian streaming platforms STACKTV, Nick+, Global TV App and Curiouscast. For more information, please visit www.corusent.com.
SOURCE Chorus Entertainment Inc.
