/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 24, 2021 /CNW/ – Boat Rocker Media Inc. (“Boat Rocker Media” or the “Company”), an independent, integrated global entertainment company, announced today the closing of its previously announced initial public offering (the “Offering”) of subordinate voting shares of the Company for total gross proceeds to the Company of C$170,100,000.
The subordinate voting shares will commence trading on the Toronto Stock Exchange today under the ticker symbol “BRMI”.
“The completion of our IPO represents an exciting next chapter for Boat Rocker,” said David Fortier and Ivan Schneeberg, Co-Founders and Co-Executive Chairmen, Boat Rocker Media and Co-Chairmen, Boat Rocker Studios. “We’re proud of what the company has achieved to date, but believe we’re just starting to unlock the full potential of our multi-genre IP creation engine.”
“Following the completion of our IPO we have enhanced balance sheet strength and financial flexibility to advance our growth strategy, against a backdrop of robust and growing demand for content globally,” said John Young, Chief Executive Officer of Boat Rocker Media. “We are now in an ideal position to pursue a range of initiatives designed to further expand our creative and commercial capabilities and deliver shareholder value.”
The Offering was underwritten by a syndicate of underwriters led by RBC Capital Markets and TD Securities Inc., as joint bookrunners, J.P. Morgan Securities Canada Inc., as co-lead manager, and including BMO Capital Markets, Scotiabank, Cormark Securities Inc., and Canaccord Genuity Corp.
The underwriters have been granted an over-allotment option to purchase up to an additional 2,835,000 subordinate voting shares at a price of C$9.00 per share for additional gross proceeds of C$25,515,000 if the over-allotment option is exercised in full. The over-allotment option can be exercised for a period of 30 days after the closing date of the Offering.
Stikeman Elliott LLP acted as legal counsel to Boat Rocker Media and Goodmans LLP acted as legal counsel to the underwriters. Whiteshell Advisory Inc. acted as an advisor to the Company.
No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy the subordinate voting shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This news release does not constitute an offer to sell or a solicitation of an offer to sell the subordinate voting shares or any other securities in the United States. The securities issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States, except to Qualified Institutional Buyers (as defined in Rule 144A of the U.S. Securities Act) pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Boat Rocker Media
Boat Rocker Media is an independent, integrated global entertainment company that harnesses the power of creativity and commerce to tell stories and build iconic brands for audiences around the world. Boat Rocker Studios (the “Studio”), the Company’s creative engine, creates, produces and distributes award-winning content and franchises across all major genres via its Scripted, Unscripted, and Kids & Family divisions. The Studio distributes and licenses thousands of hours of its own and third-party content worldwide. Boat Rocker Media owns or invests in companies in the entertainment industry that bolster the company’s strategic and operational goals, including Insight Productions (Unscripted), Jam Filled Entertainment (2D and 3D Animation), Industrial Brothers (Kids & Family Animation) and Untitled Entertainment, a leading global talent management company that represents leading on-screen talent and celebrities. A selection of Boat Rocker Media’s projects include: Orphan Black (BBC AMERICA, CTV Sci-Fi Channel), Dear…(Apple TV+), Lip Sync Battle (Paramount Network), The Amazing Race Canada (CTV), MasterChef Canada (CTV), The Next Step (Family Channel, CBC), The Loud House (Nickelodeon), Remy & Boo (Universal Kids, CBC), and Dino Ranch (CBC, Disney Junior). For more information, please visit www.boatrocker.com.
This news release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and the factors discussed under “Risk Factors” in the Final Prospectus. Actual results could differ materially from those projected herein. Boat Rocker Media does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
SOURCE Boat Rocker Media Inc.
Canada’s Telesat takes on Musk and Bezos in space race to provide fast broadband
By Steve Scherer
OTTAWA (Reuters) – Canada’s Telesat is racing to launch a low-earth-orbit (LEO) satellite constellation to provide high-speed global broadband from space, pitting the satellite communications firm founded in 1969 against two trailblazing billionaires, Elon Musk and Jeff Bezos.
Musk, the Tesla Inc CEO who was only a year old when Telesat launched its first satellite, is putting the so-called Starlink LEO into orbit with his company SpaceX, and Amazon.com Inc, which Bezos founded, is planning a LEO called Project Kuiper. Bezos also owns Blue Origin, which builds rockets.
Despite the competition, Dan Goldberg, Telesat’s chief executive officer, voices confidence when he calls Telesat’s LEO constellation “the Holy Grail” for his shareholders – “a sustainable competitive advantage in global broadband delivery.”
Telesat’s LEO has a much lighter price tag than SpaceX and Amazon’s, and the company has been in satellite services decades longer. In addition, instead of focusing on the consumer market like SpaceX and Amazon, Telesat seeks deep-pocketed business clients.
Goldberg said he was literally losing sleep six years ago when he realized the company’s business model was in peril as Netflix and video streaming took off and fiber optics guaranteed lightning-fast internet connectivity.
Telesat’s 15 geostationary (GEO) satellites provide services mainly to TV broadcasters, internet service providers and government networks, all of whom were growing increasingly worried about the latency, or time delay, of bouncing signals off orbiters more than 35,000 km (22,200 miles) above earth.
Then in 2015 on a flight home from a Paris industry conference where latency was a constant theme, Goldberg wrote down his initial ideas for a LEO constellation on an Air Canada napkin.
Those ideas eventually led to Telesat’s LEO constellation, dubbed Lightspeed, which will orbit about 35 times closer to earth than GEO satellites, and will provide internet connectivity at a speed akin to fiber optics.
Telesat’s first launch is planned in early 2023, while there are already some 1,200 of Musk’s Starlink satellites in orbit.
“Starlink is going to be in service much sooner … and that gives SpaceX the opportunity to win customers,” said Caleb Henry, a senior analyst at Quilty Analytics.
Starlink’s “first mover” advantage is at most 24 months and “no one’s going to lock this whole market up in that amount of time,” Goldberg said.
Telesat in 2019 signed a launch deal with Bezos’ aerospace company Blue Origin. Discussions are ongoing with three others, said David Wendling, Telesat’s chief technical officer.
They are Japan’s Mitsubishi Heavy Industries Ltd, Europe’s ArianeGroup , and Musk’s SpaceX, which launches the Starlink satellites. Wendling said a decision would be taken in a matter of months.
Telesat aims to launch its first batch of 298 satellites being built by Thales Alenia Space in early 2023, with partial service in higher latitudes later that same year, and full global service in 2024.
The Lightspeed constellation is estimated to cost half as much as the $10 billion SpaceX and Amazon projects.
“We think we’re in the sweet spot,” Goldberg said. “When we look at some of these other constellations, we don’t get it.”
Analyst Henry said Telesat’s focus on business clients is the right one.
“You have two heavyweight players, SpaceX and Amazon, that are already pledging to spend $10 billion on satellite constellations optimized for the consumer market,” he said. “If Telesat can spend half that amount creating a high-performance system for businesses, then yeah, they stand to be very competitive.”
Telesat’s industry experience may also provide an edge.
“We’ve worked with many of these customers for decades … That’s going to give us a real advantage,” Goldberg said.
Telesat “is a satellite operator, has been a satellite operator, and has both the advantage of expertise and experience in that business,” said Carissa Christensen, chief executive officer of the research firm BryceTech, adding, however, that she sees only two to three LEO constellations surviving.
Telesat is nailing down financing – one-third equity and two-thirds debt – and will become publicly traded on the Nasdaq sometime this summer, and it could also list on the Toronto exchange after that. Currently, Canada’s Public Sector Pension Investment Board and Loral Space & Communications Inc are the company’s main shareholders.
France and Canada’s export credit agencies, BPI and EDC respectively, are expected to be the main lenders, Goldberg said. Quebec’s provincial government is lending C$400 million ($317 million), and Canada’s federal government has promised C$600 million to be a preferred customer. The company also posted C$246 million in net income in 2020.
Executing the LEO plan is what keeps Goldberg up at night now, he said.
“When we decided to go down this path, the two richest people in the universe weren’t focused on their own LEO constellations.”
($1 = 1.2622 Canadian dollars)
(Reporting by Steve Scherer in Ottawa; Editing by Matthew Lewis)
$600K donation to boost online mental health programming in Nova Scotia
Nova Scotia Health’s mental health and addictions program hopes to offer more online support to people across the province after receiving a significant donation this week.
The QEII Foundation announced that RBC is contributing $600,000 toward the province’s e-mental health programming.
“It’s particularly important for the current time under all the strains of COVID,” said Dr. Andrew Harris, a psychiatrist and the senior medical director for the program.
The plan for online programming has been in the works for years, he said, but the pandemic expedited the push. Last June, the department launched a number of applications that can be used to help those with anxiety, depression and addictions.
Since then, as many as 3,000 Nova Scotians have used the site to access mental health services.
“There’s a persistent difficulty in accessing services,” Harris said of traditional models in Nova Scotia. He said those who don’t need intensive therapy may find the support they need through the online programs.
He uses the example of someone who can’t take time off work to speak to a clinician.
“It’s better for them to be able to access a service after hours or on the weekend. So our e-mental health services are tailored a little bit to meet that need.”
Calls to crisis line increase
Harris said the province’s mental health crisis line continues to see a 30 per cent increase in calls for help, so he’s trying to raise awareness that services can be accessed immediately online.
“I think everyone is aware that for a lot of people it’s much easier to talk about a physical illness than a mental illness. So there’s an allowance there for privacy, for some anonymity but still making available things that can help the person who is struggling in the community.”
The online portal has a list of programs that people can use, covering things like reducing stress, solving problems and becoming mindful. It mirrors a site in Newfoundland and Labrador that Harris said is used to help people in remote areas.
Harris said the donation from RBC will be used to continue to evaluate more services, and pay for the licensing of the products that are mostly developed by other organizations.
He encourages anyone who is struggling to test out the site, and use it as an entry point into the mental health system.
“It’s important for people to acknowledge when they’re struggling. It happens to all of us through our lives in different times.”
Anyone in Nova Scotia looking to access the tools can visit: https://mha.nshealth.ca.
Samsung’s cheapest 5G Galaxy phones yet are launching this month
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- Samsung is launching five new phones in its Galaxy A series this month.
- Three of them will support 5G connectivity, and the most expensive phone is just $500.
- The cheapest phone of the five still has three cameras but lacks 5G and other features.
- See more buying advice on the Insider Reviews homepage.
Samsung may be best known for its high-end Galaxy S phones that rival the iPhone. But the tech giant is proving that it can appeal to cost-conscious customers with the launch of five new smartphones in the United States, the priciest of which only costs $500.
Samsung’s new lineup of budget phones, which debuted in other markets before coming to the US, are all launching this month. Some of them will be released as soon as this week, while the least expensive model will debut on April 29. The launch comes as competitors like Apple and Google have also been focusing on cheaper smartphones to boost sales.
Three of these new Samsung devices also support 5G, another sign that shoppers no longer have to pay a premium to get access to next-generation wireless networks. All five of the new phones also have the traditional headphone jack for wired listening and run on an octa-core processor.
Here’s a look at the new Samsung Galaxy A series phones that will be launching soon.
Samsung Galaxy A52 5G
- Release date: April 9
- Price: $499.99
The Galaxy A52 5G is the most expensive smartphone of the bunch. It comes with a 6.5-inch FHD+ screen and a quad-camera system that includes some of the same features as Samsung’s more expensive Galaxy S phones. These include Single Take, which creates several different photos or video clips with different effects with a single press of the shutter button.
Its screen can also boost its refresh rate up to 120Hz for smoother scrolling and performance, a feature that has become common on pricier flagship phones but is rare on cheaper models. It’s also the only phone in this A-series lineup to include Samsung’s notch-free screen design.
Samsung Galaxy A42 5G
- Release date: April 8
- Price: $399.99
The less expensive Galaxy A42 5G has a slightly larger screen than the A52 5G, but scales back on certain features when it comes to the camera and screen refresh rate.
Still, it has a triple-lens camera with high-resolution sensors, and like its pricier sibling it also supports Single Take.
Samsung Galaxy A32 5G
Release date: April 9
The Galaxy A32 5G is Samsung’s cheapest 5G smartphone to date. It has a large 6.5-inch screen, but it’s made from an LCD panel instead of Super AMOLED. That means it will likely lack some of the contrast and boldness of Samsung’s other devices. But Samsung hasn’t skimped on the camera considering this model has a quad-lens main camera, which is rare if not unheard of at that price.
Samsung Galaxy A12
Release date: April 9
Samsung’s Galaxy A12 doesn’t come with 5G support, but it still gives you a lot for the price. For less than $200, you’re getting a quad-lens camera and a large 6.5-inch LCD screen. But remember this phone only has 32GB of storage, so it’s best suited for those who don’t store a lot of photos and videos on their device.
Samsung Galaxy A02s
- Release date: April 29
- Price: $109.99
The Galaxy A02s is Samsung’s cheapest phone, offering a 6.5-inch LCD screen and three main cameras. It doesn’t have 5G support or as much computing power or camera prowess as Samsung’s other A-series phones, but that’s to be expected for a device at this price. This phone is truly for those who just need the basics and little else.
Disclosure: This post is brought to you by the Insider Reviews team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at firstname.lastname@example.org.
Source:- Business Insider
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