HALIFAX, NS, Oct. 21, 2022 /PRNewswire/ - WildBrain Ltd.
("WildBrain" or the "Company") (TSX: WILD), a global
leader in kids' and family entertainment, has amended its credit
agreement (the "Credit Agreement") to increase its revolving
credit facility (the "Revolving Facility") from US$30 million to US$40
million, with an interest rate of SOFR (Secured Overnight
Financing Rate) plus 4%, based on the applicable form of borrowing.
The new SOFR benchmark rate replaces the discontinued LIBOR rate.
The Revolving Facility matures on the earlier of March 2026 or three months prior to the maturity
of the Company's convertible debentures, except where
converted.
WildBrain will use the Revolving Facility for general corporate
and working capital purposes.
The amendments to the Credit Agreement in respect of the
Revolving Facility will be available on SEDAR at www.sedar.com.
For more information, please contact:
Investor Relations: Kathleen
Persaud - VP, Investor Relations, WildBrain
kathleen.persaud@wildbrain.com
+1 212-405-6089
Media: Shaun Smith - Director,
Corporate & Trade Communications, WildBrain
shaun.smith@wildbrain.com
+1 416-977-7230
About WildBrain
At WildBrain we inspire imaginations to run wild, engaging kids
and families everywhere with great content across all media. With
approximately 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, Yo Gabba
Gabba!, Caillou, Inspector Gadget,
Johnny
Test and Degrassi. At our
75,000-square-foot state-of-the-art animation studio in
Vancouver, BC, we produce such
fan-favourite series as The Snoopy Show, Snoopy in
Space, Chip and Potato, Carmen Sandiego, Go, Dog. Go! and more. Our
shows are enjoyed worldwide in more than 150 countries on over 500
streaming platforms and telecasters, and our AVOD business –
WildBrain Spark – offers one of the largest networks of kids'
channels on YouTube, garnering billions of views per month from
over 245 million subscribers. Through our leading agency, WildBrain
CPLG, we also license consumer products and location-based
entertainment in every major territory for our own properties as
well as 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 (TSX: WILD). Visit us at
WildBrain.com.
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 maturity of the
Revolving Facility, use of proceeds from the Revolving Facility,
and the business strategies and operational activities of
WildBrain. 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 availability of and cost of
financing, general economic and market conditions and the impact of
such conditions on the industries in which WildBrain operates,
competition and the potential impact of industry mergers and
acquisitions, market factors, WildBrain's ability to identify and
execute anticipated production, distribution, licensing and other
contracts, contractual counterparty risk, the ability of WildBrain
to realize the expected value of its assets, supply chain and other
related disruptions, 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. 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 WildBrain Ltd.
