CORUS ENTERTAINMENT ANNOUNCES INTENTION TO FILE TO COMMENCE NORMAL COURSE ISSUER BID | Information

TORONTO, Dec. 21, 2021 /PRNewswire/ – Corus Leisure Inc. (“Corus” or the “Firm”) (TSX: CJR.B) introduced right now that the Firm intends to file with the Toronto Inventory Alternate (“TSX“) a discover of intention to begin a standard course issuer bid (“NCIB“) for its Class B non-voting shares for a one 12 months interval. If accepted by the TSX, the Firm could be permitted below the NCIB to buy for cancellation, by way of the amenities of the TSX and/or different Canadian buying and selling methods, as much as 5% of the general public float (calculated in accordance with TSX guidelines) of the Firm’s issued and excellent Class B non-voting shares in the course of the 12 months following such TSX acceptance. Topic to TSX acceptance, Corus presently anticipates the NCIB commencing on or about January 17, 2022, and in any occasion, a minimum of two buying and selling days after TSX acceptance of the NCIB. The precise quantity of Class B non-voting shares topic to the NCIB might be decided on the date of acceptance of the discover of intention by the TSX.

All Class B non-voting shares bought by the Firm below the NCIB might be bought at prevailing market costs in accordance with the foundations and insurance policies of the TSX and relevant securities legal guidelines. The precise variety of Class B non-voting shares that could be bought, and the timing of any such purchases, might be decided by the Firm, topic to the relevant phrases and limitations of the NCIB (together with any automated repurchase plan adopted in connection therewith). All Class B non-voting shares acquired by the Firm below the NCIB might be cancelled.

The Firm’s prior regular course issuer bid commenced on November 26, 2020, and expired on November 25, 2021. The Firm didn’t repurchase and cancel any Class B non-voting shares below that prior bid.

The NCIB will terminate one 12 months after its graduation, or earlier if the utmost variety of Class B non-voting shares below the NCIB have been bought. Though the Firm has a gift intention to accumulate its Class B non-voting shares pursuant to the NCIB, the Firm is not going to be obligated to make any purchases and purchases could also be suspended by the Firm at any time. The Firm reserves the suitable to terminate the NCIB earlier if it feels it’s applicable to take action.

In reference to the NCIB, the Firm intends to enter into an automated repurchase plan with its designated dealer to permit for purchases of its Class B non-voting shares throughout sure pre-determined black-out intervals, topic to sure parameters as to cost and variety of shares. Exterior of those pre-determined black-out intervals, shares might be repurchased in accordance with administration’s discretion, topic to relevant regulation.

The Firm proposes to begin the NCIB as a result of it believes that the market value of the Class B non-voting shares could not, occasionally, totally mirror their worth and accordingly, the acquisition of the Class B non-voting shares could be in the very best curiosity of the Firm and a lovely and applicable use of accessible funds.

Warning Regarding Ahead-Wanting Info

This press launch accommodates forward-looking info and needs to be learn topic to the next cautionary language:

To the extent any statements made on this press launch include info that isn’t historic, these statements are forward-looking statements and could also be “forward-looking info” inside the that means of relevant securities legal guidelines (collectively, “forward-looking info”). These forward-looking statements relate to, amongst different issues, statements associated to the Firm’s intention to use to begin its NCIB, the timing thereof, and the variety of Class B non-voting shares which can be bought below the NCIB and the Firm’s perception that the repurchase of Class B non-voting shares is an applicable use of accessible funds, and may usually be recognized by means of phrases corresponding to “consider”, “anticipate”, “count on”, “intend”, “plan”, “will”, “could” and different related expressions. As well as, any statements that discuss with expectations, projections or different characterizations of future occasions or circumstances could also be thought of forward-looking info. Though Corus believes that the expectations mirrored in such forward-looking info are cheap, such info entails assumptions and dangers and uncertainties, and undue reliance shouldn’t be positioned on such statements. Sure materials components or assumptions are utilized with respect to the forward-looking info, together with with out limitation, components and assumptions relating to the final market circumstances and common outlook for the trade, together with the potential impression of recent competitors and trade mergers and acquisitions, rates of interest, stability of the promoting, distribution, merchandise and subscription markets, working and capital prices and tariffs, taxes and charges, the Firm’s potential to supply fascinating content material and the Firm’s capital and working outcomes being per its expectations. Precise outcomes could differ materially from these expressed or implied in such info. Vital components that would trigger precise outcomes to vary materially from these expectations embrace, amongst different issues: the Firm’s potential to draw and retain promoting income; viewers acceptance of the Firm’s tv packages and cable networks; the Firm’s potential to recoup manufacturing prices, the provision of tax credit and the existence of co-production treaties; the Firm’s potential to compete in any of the industries wherein it does enterprise; the alternatives (or lack thereof) that could be offered to and pursued by the Firm; circumstances within the leisure, info and communications industries and technological developments therein; adjustments in legal guidelines or rules or the interpretation or utility of these legal guidelines and rules; the Firm’s potential to combine and understand anticipated advantages from its acquisitions and to successfully handle its progress; the Firm’s potential to efficiently defend itself in opposition to litigation issues arising out of the peculiar course of enterprise; failure to satisfy covenants below the Firm’s senior credit score facility; epidemics, pandemics or different public well being crises, together with the present outbreak of COVID-19 and adjustments in accounting requirements. Extra details about these components and concerning the materials assumptions underlying any forward-looking info could also be discovered below the heading “Dangers and Uncertainties” within the Administration’s Dialogue and Evaluation for the 12 months ended August 31, 2021, and below the heading “Threat Elements” within the Firm’s Annual Info Type. Corus cautions that the foregoing record of necessary assumptions and components that will have an effect on future outcomes shouldn’t be exhaustive. When counting on the Firm’s forward-looking info to make choices with respect to Corus, traders and others ought to rigorously take into account the foregoing components and different uncertainties and potential occasions. Except in any other case specified, all forward-looking info on this doc speaks as of the date of this doc. Except in any other case required by relevant securities legal guidelines, Corus disclaims any intention or obligation to publicly replace or revise any forward-looking info whether or not because of new info, occasions or circumstances that come up after the date thereof or in any other case.

About Corus Leisure Inc.

Corus Leisure Inc. (TSX: CJR.B) is a number one media and content material firm that develops and delivers top quality manufacturers and content material throughout platforms for audiences all over the world. Partaking audiences since 1999, the corporate’s portfolio of multimedia choices embody 33 specialty tv providers, 39 radio stations, 15 standard tv stations, a set of digital and streaming property, animation software program, know-how and media providers. Corus is an internationally-renowned content material creator and distributor by way of Nelvana, a world class animation studio skilled in all codecs and Corus Studios, a globally acknowledged producer of hit scripted and unscripted content material. The corporate additionally owns modern full-service social digital company so.da, way of life leisure firm Kin Canada, main 2D animation software program provider Toon Growth and kids’s ebook publishing home, Children Can Press. Corus’ roster of premium manufacturers contains International Tv, W Community, HGTV Canada, Meals Community Canada, HISTORY®, Showcase, Grownup Swim, Nationwide Geographic, Disney Channel Canada, YTV, International Information, Globalnews.ca, Q107, Nation 105, and CFOX, together with broadly distributed Canadian streaming platforms STACKTV, Nick+, the International TV App and Curiouscast. For extra info go to www.corusent.com.

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SOURCE Corus Leisure Inc.

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