RICHMOND HILL, ONTARIO--(Marketwire - Sept. 22, 2008) - BFS Entertainment & Multimedia Limited ("BFS") (TSX VENTURE:BFS) announced today that the TSX Venture Exchange has accepted BFS' notice of intention to make a normal course issuer bid for its common shares through the facilities of the TSX Venture Exchange.
On September 22, 2008, BFS may commence making purchases of up to a maximum of 422,483 common shares, which represents 5.4% of its issued and outstanding common shares and 10% of the 4,224,833 common shares of BFS held by persons other than senior officers, directors and principal shareholders of BFS. Any shares acquired will be purchased at the market price for the common shares at the time of acquisition and will be cancelled. Don Ross of Jones Gable & Company Limited will be the broker conducting the normal course issuer bid on behalf of the Company. The bid will terminate on the earlier of the dates determined by BFS and September 21, 2009. BFS currently has 7,828,333 issued and outstanding common shares.
During the period ended September 20, 2008 (i.e. the period of the Company's most recently completed normal course issuer bid), no common shares were purchased by the Company pursuant to such normal course issuer bid.
Proceeding with the normal course issuer bid will give BFS the flexibility to purchase its common shares if it determines that, as a result of the difference between BFS' view of the fundamental value of the common shares and the market price, it is in the best interest of BFS to do so.
BFS Entertainment & Multimedia Limited is a recognised independent manufacturer and distributor of home video with head office in Toronto, Ontario and sales office in Los Angeles, California.
BFS acquires exclusive rights to film and television programming for home video distribution and broadcast where applicable. Distribution rights are obtained by license, acquisition and coproduction from various independent production and television broadcast companies. These programming rights are developed into home video products for North American distribution and where applicable, are licensed internationally.
Programming includes classic dramas, mystery, comedy, sports, documentaries and health and wellness and is sold under the BFS Video, American Home Treasures and Bodhi Lifestyle(TM) brands. North American distribution is through national retailers, distributors, mail order companies and BFS' direct to consumer division.
BFS' strategy is to continue to acquire new programming and to expand its proprietary programme development, international distribution and direct to consumer electronic delivery.
(SEC Rule 12g exemption #82-4245)
FOR FURTHER INFORMATION PLEASE CONTACT:
BFS Entertainment & Multimedia Limited
John Grzybowski, MBA, CA
Chief Financial Officer
(905) 884-2323
(905) 884-8292 (FAX)
Email: ir@bfsent.com
Website: www.bfsent.com
