Boat Rocker Media Completes Initial Public Offering Raising Gross Proceeds of C$170.1 Million

/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.

Forward-Looking Statements

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.

For further information: Craig Armitage, Boat Rocker Media, Investor Relations, craig.armitage@loderockadvisors.com416.347.8954; Matt Salvatore, Boat Rocker Media, Corporate Communications, matt.salvatore@boatrocker.com, 613.852.7462

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