Contact Information: JumpTV Contacts: KSCA Worldwide Lewis Goldberg T: 212.896.1216 NOMAD: Canaccord Adams Chris Bowman
JumpTV Closes XOS Broadband Network Acquisition
| Source: JumpTV
TORONTO--(Marketwire - August 31, 2007) - JumpTV Inc. (AIM : JTV ) (TSX : JTV ) is pleased to
announce that the acquisition of the Broadband Network business unit of XOS
Technologies Inc. ("XOS Network"), disclosed on July 17, 2007, is closing
today. The consideration for the sale was US$60.25 million in cash and up
to 3 million retention warrants for employees of XOS Network.
As part of the consideration employees of XOS Network have been initially
granted 1.75 million common share purchase warrants permitting the holders
to buy one common share at an exercise price equal to the average closing
prices of JumpTV stock on the Toronto Stock Exchange on the last trading
day of each of June, July, August and September 2007, exercisable for a
period of 5 years. Each warrant will vest 1/48th per month for the
employees. The grant of 1.25 million of the total 1.75 million warrants is
subject to shareholder approval.
About JumpTV
JumpTV (AIM : JTV ) (TSX : JTV ) is a leading distributor of live international
television and sports over the Internet. With over 300 TV channels from 75+
countries, JumpTV delivers full-screen sports, news and entertainment
content on a real-time basis from all corners of the globe to computers,
Internet-enabled TV sets, IP set-top-boxes and cell phones with browser
access.
Forward-looking statement
Certain statements herein may constitute forward-looking statements,
including those identified by the expressions "may," "will," "should,"
"could," "anticipate," "believe," "plan," "estimate," "potential,"
"expect," "intent" and similar expressions to the extent they relate to
JumpTV or its managements. These statements reflect JumpTV's current
expectations and are based on information currently available to
management. These forward-looking statements are subject to a number of
risks, uncertainties, assumptions and other factors that could cause actual
results or events to differ materially from current expectations, including
the matters discussed under "Risk Factors" contained in JumpTV's prospectus
(admission document) dated August 1, 2006 and the matters discussed under
"Risk Factors" contained in JumpTV's final short form prospectus dated
February 19, 2007. These forward-looking statements are made as of the date
hereof, and JumpTV assumes no obligation to update or revise them to
reflect new events or circumstances.