COOKIE JAR ENTERTAINMENT SECURES EXPANDED BANK FACILITY
New Financing Provides Additional Funding For Growing Production Slate
FOR IMMEDIATE RELEASE:
Toronto (October 29, 2007) - Cookie Jar Entertainment has secured an expanded operating line which can be extended to $40 million of availability and has added Bank of America to its strategic lending relationships, led by RBC Capital Markets.
This facility will be utilized to finance an ever-growing line-up of new production in support of its hit show "The Doodlebops", evergreen classics such as "Caillou" and "Arthur", "Johnny Test", newly-launched shows including "Hurray for Huckle" and "Magi-Nation" as well as an extensive development slate for 2008 and 2009.
"We greatly value the continued support from our long-standing financial partners at RBC Capital Markets," said Michael Hirsh, Cookie Jar Group CEO. "We are also extremely pleased to add the strength and capabilities of Bank of America, a leading lender to the North American entertainment community. Cookie Jar looks forward to working with our financing partners who understand our business model and support our strategy for growth."
"The financing reflects the growth and performance exhibited by the business" said Scott McCaw, Cookie Jar CFO. "This partnership now provides sufficient capital to meet the needs of our expanding production slate for 2008 which is expected to exceed 200 episodes, and to support the continued development and growth of the business in 2009 and beyond."
"It's a pleasure to expand our valued relationship with this dynamic business", said Ken Klassen, Managing Director, RBC Capital Markets.
"We are excited to participate in the Cookie Jar story", said Patrick Drum, Senior Vice President, Entertainment Industries Group, Bank of America. "We look forward to partnering with the Company and helping them achieve their goals in the future."
About Cookie Jar Group
Cookie Jar Group develops, produces, distributes and markets quality products to children, their caregivers, parents and teachers. Cookie Jar Group's products reflect its commitment to providing the best in children's published content, animated and live action programming and innovative educational and entertainment-driven products worldwide. The group of companies consists of Cookie Jar Entertainment Inc. and Cookie Jar Education Inc.
Cookie Jar Entertainment Inc., Cookie Jar Group's entertainment operation, is a leading, global, independent producer, marketing and brand manager of such renowned children's properties as "The Doodlebops", "Caillou", "Johnny Test" and "Magi-Nation". Combining globally renowned intellectual properties with an industry-recognized management team, Cookie Jar Entertainment Inc. is a market-driven, brand building company that is committed to children first and foremost and is dedicated to the development and production of quality programming that embraces the whole child, with animated and live-action series that entertain, inspire and enlighten children and family audiences worldwide.
