BFS Entertainment & Multimedia Limited Announces Normal Course Issuer Bid
May 27 2014 - 12:15PM
Marketwired
BFS Entertainment & Multimedia Limited Announces Normal Course
Issuer Bid
RICHMOND HILL, ONTARIO--(Marketwired - May 27, 2014) - BFS
Entertainment & Multimedia Limited ("BFS") (TSX-VENTURE:BFS)
announced today that the TSX Venture Exchange has accepted BFS'
notice of intention to make a normal course issuer bid for its
common shares through the facilities of the TSX Venture
Exchange.
On May 28, 2014, BFS
may commence making purchases of up to a maximum of 409,073 common
shares, which represents 5.4% of its issued and outstanding common
shares and 10% of the 4,090,733 common shares of BFS held by
persons other than senior officers, directors and principal
shareholders of BFS. Any shares acquired will be purchased at the
market price for the common shares at the time of acquisition and
will be cancelled. Don Ross of Jones Gable & Company Limited
will be the broker conducting the normal course issuer bid on
behalf of the Company. The bid will terminate on the earlier of the
dates determined by BFS and May 27, 2015. BFS currently has
7,524,333 issued and outstanding common shares.
Proceeding with the
normal course issuer bid will give BFS the flexibility to purchase
its common shares if it determines that, as a result of the
difference between BFS' view of the fundamental value of the common
shares and the market price, it is in the best interest of BFS to
do so.
BFS Entertainment
& Multimedia Limited is a recognised independent North American
entertainment company focusing on the acquisition, distribution and
production of film and television media with head office in
Toronto, Ontario.
Programming includes
classic dramas, mystery, comedy, sports, documentaries and health
and wellness and is sold under the BFS, American Home Treasures and
Bodhi Lifestyle™ brands. North American retail distribution is
through national retailers, distributors, mail order companies and
BFS' direct to consumer division and e-commerce websites.
BFS' strategy is to
continue to acquire new programming and to expand its proprietary
programme development, international distribution and direct to
consumer delivery, including electronic digital delivery and
streaming.
(SEC Rule 12g
exemption #82-4245)
BFS Entertainment & Multimedia LimitedJohn Grzybowski, MBA,
CPA, CAChief Financial Officer(905) 884-2323(905)
884-8292ir@bfsent.comwww.bfsent.com
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