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BOAT ROCKER MEDIA SIGNS DEFINITIVE AGREEMENTS FOR A PROPOSED REVERSE TAKEOVER BY BLUE ANT MEDIA CONCURRENT WITH A MANAGEMENT BUYOUT OF BOAT ROCKER'S STUDIO BUSINESS
BOAT ROCKER MEDIA SIGNS DEFINITIVE AGREEMENTS FOR A PROPOSED REVERSE TAKEOVER BY BLUE ANT MEDIA C...
About this update from Blue Ant Media Corporation
[{"type":"text","content":"\n\n\n\n BOAT ROCKER MEDIA SIGNS DEFINITIVE AGREEMENTS FOR A PROPOSED REVERSE TAKEOVER BY BLUE ANT MEDIA CONCURRENT WITH A MANAGEMENT BUYOUT OF BOAT ROCKER'S STUDIO BUSINESS\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n The agreed deal value of\n \n C$1.80\n \n per Boat Rocker Media Inc. share represents a substantial premium to the current share price\n \n\n\n\n The resulting issuer will be a global media company with greater scale and diversified revenue streams\n \n\n\n\n Ownership of the full content value chain by the resulting issuer, including digital, broadcast, production, and distribution, enhancing strategic flexibility\n \n\n\n\n Resulting issuer to be led by an experienced, veteran industry management team with a proven track record\n \n\n\n\n Boat Rocker Studios to continue as a private company under current leadership\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 24, 2025\n \n\n /CNW/ - Boat Rocker Media Inc. (\"BRMI\" or the \"Company\") (TSX: BRMI) announced today that it has entered into definitive agreements in respect of a transaction (the \"Transaction\") pursuant to which Blue Ant Media Inc. (\"Blue Ant\"), a privately owned company controlled by\n \n Michael MacMillan\n \n , will go-public via a reverse take-over (the \"RTO\") of BRMI, and BRMI will concurrently sell Boat Rocker Studios to a privately owned company controlled by BRMI Co-Founders and Co-Executive Chairmen,\n \n David Fortier\n \n and\n \n Ivan Schneeberg\n \n , and BRMI CEO\n \n John Young\n \n (\"IDJCo\").\n \n\n\n\n\n\n\n\n\n\n\n Transaction Summary\n \n\n\n\n Pursuant to the Transaction, BRMI will acquire all of the shares of Blue Ant in exchange for shares of BRMI on the basis of an exchange ratio of 1.25 shares (prior to the share consolidation noted below) of BRMI for each share of Blue Ant (the \"Exchange Ratio\"). The Exchange Ratio implies a valuation of\n \n C$1.80\n \n per BRMI share (pre-consolidation), representing a premium of approximately 125% to the\n \n March 21, 2025\n \n closing price of BRMI's shares on the Toronto Stoc...