TORONTO, June 15 - OutdoorPartner Media Corporation ("OutdoorPartner" or the "Company") (TSXV: OPX) announced today the closing of the exercise of the over-allotment option granted in connection with its previously-announced public offering (the "Offering"), with an aggregate of 892,500 common shares being sold for gross proceeds to the Company of $803,250. With the exercise of the over-allotment option, the aggregate gross proceeds of the Offering to the Company are $6,158,250.
The Offering was led by GMP Securities L.P. on behalf of a syndicate of underwriters including Westwind Partners Inc. and M Partners Inc.
About OutdoorPartner:
OutdoorPartner is a market leader in the emergent alternative out-of-home media segment. The Company operates two out-of-home media networks: a PartnerBin network and a payphone kiosk advertising network. PartnerBins - litter/recycling receptacles that facilitate advertising - are currently located in nine U.S. communities, including: New York City, St. Louis and Baltimore. OutdoorPartner's payphone kiosk advertising division, Prime Point Media, offers highly-targeted advertising plus PrimeCasting - a Bluetooth broadcast solution - on a network of over 700,000 payphone kiosks located in all of the top 50 designated market areas. More information may be found by visiting www.outdoorpartner.com or www.primepointmedia.com.
This news release contains forward-looking statements regarding, among other things, OutdoorPartner’s beliefs, plans, objectives, strategies, estimates, intentions and expectations. Such statements are based on a number of assumptions which may prove to be incorrect, involve certain risks and uncertainties that are difficult to predict and, accordingly, are not guarantees of future performance. The future results of the Company or developments may differ materially from those expressed in the forward-looking statements contained in this news release, due to, among other factors, OutdoorPartner’s lack of operating profits, its dependence on key personnel, general economic conditions and other external events that may impact on customers’ advertising spending, competition from other out-of-home advertisers and other media and government regulation seeking to limit or restrict OutdoorPartner’s activities. More detailed information about these and other factors is included in OutdoorPartner’s 2006 Annual Information Form and other documents published or filed by, or on behalf of, OutdoorPartner from time to time with the Canadian securities regulatory authorities. Other than as required by law, OutdoorPartner undertakes no obligation to publicly update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
For further information: Mark Brodkin, CEO, OutdoorPartner Media Corporation, 296 Richmond Street West, Suite 305, Toronto, Ontario M5V 1X2, Canada, T: (416) 602-1602, F: (416) 352-5070, www.outdoorpartner.com