Toronto-based independent media company Blue Ant Media Inc., which was founded in 2011, has obtained a $4.8 million investment from Canadian merchant bank Difference Capital Financial (DCF). DCF is making the investment via an agreement to buy company shares from a private business owned by DCF’s chairman Michael Wekerle. Blue Ant is also backed by alternative investments firm Kensington Capital Partners, venture capital firm Relay Ventures and Torstar Corp.
Difference Capital Financial Inc. (“DCF”) (TSX VENTURE:DCF) announces that pursuant to a share purchase agreement dated July 10, 2013, DCF has agreed to purchase 3,829,795 common shares of Blue Ant Media Inc. (“Blue Ant”) from a private company controlled by Michael Wekerle, the Executive Chairman of DCF, for total consideration of $4,787,243.75 (the “Blue Ant Transaction”). Closing of the Blue Ant Transaction is subject to the approval of the TSX Venture Exchange. The Blue Ant Transaction is considered a “related party transaction” under Multilateral Instrument 61-101 (“MI 61-101”) and is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Blue Ant, an independent media company, is a content leader in lifestyle, travel, documentary, music and entertainment across all screens.
About Difference Capital Financial Inc.
Difference Capital Financial Inc. is a publicly-listed, Toronto-based specialty finance company focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as through opportunistic investments in undervalued financial assets and real property.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the proposed transactions and neither of the foregoing entities has approved or disapproved of the contents of this press release.
Difference Capital Financial Inc.
Chief Executive Officer
416 649 5088
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