HALIFAX, N.S., October 21, 2022 /PRNewswire/ – WildBrain Ltd. (“WildBrain“or the”Company“) (TSX: WILD), a global leader in children’s and family entertainment, has amended its credit agreement (the “credit agreement“) to increase its revolving credit facility (the “Revolving Facility“) of $30 million at $40 million, with an interest rate of SOFR (Secured Overnight Financing Rate) plus 4%, depending on the form of borrowing applicable. The new SOFR reference rate replaces the old LIBOR rate. The revolving facility matures on the earliest of the following dates: March 2026 or three months before the maturity of the Company’s convertible debentures, except in the event of conversion.
WildBrain will use the Revolving Facility for general corporate and working capital purposes.
Amendments to the Credit Agreement with respect to the Revolving Facility will be available on SEDAR at www.sedar.com.
For more information please contact:
Investor Relations: Kathleen Persaud – Vice President, Investor Relations, WildBrain
Media: Shaun Smith – Director, Corporate and Commercial Communications, WildBrain
At WildBrain, we ignite the imagination, 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 largest in the world – we are home to brands such as Peanuts, Teletubbies, strawberry shortcakeYo Gabba Gabba!, Pebble, Inspector Gadget, Johnny’s essay and Degrassi. In our state-of-the-art 75,000 square foot animation studio at Vancouver, BCwe produce fan-favorite series such as The Snoopy Show, snoopy in space, Chip and potato, Carmen Sandiego, Come on, Dog. Go! and more. Our shows are enjoyed around the world in more than 150 countries on more than 500 streaming platforms and TV broadcasters, and our AVOD business – WildBrain Spark – offers one of the largest networks of children’s channels on YouTube, garnering billions of views per month from more than 245 million subscribers. . Through our lead agency, WildBrain CPLG, we also license consumer products and location-based entertainment in all major territories for our own properties as well as our clients and content partners. Our television group owns and operates four of the world’s most-watched family entertainment channels. Canada. WildBrain is headquartered in Canada with offices around the world and trades on the Toronto Stock Exchange (TSX: WILD). Visit us at WildBrain.com.
This press release contains “forward-looking statements” under applicable securities laws with respect to the Company, including, without limitation, statements regarding the expiry of the Revolving Facility, the use proceeds from the Revolving Facility and the business strategies and operating activities of WildBrain. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these 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 include, among others, the availability and cost of financing, general economic and market conditions and the impact of such conditions on sectors 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, the contractual counterparty risk, WildBrain’s ability to realize the expected value of its assets, supply chain and other related disruptions, and risk factors discussed in filings with applicable securities regulatory authorities of from time to time, including matters discussed under “Risk Factors” in the Company’s most recent Annual Information Form iety and the annual management report. These forward-looking statements are made as of the date hereof, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by law.