December 21, 2011
High Fidelity HDTV Inc. (“High Fidelity”) and its shareholders entered into a share purchase agreement with Blue Ant Media Inc. (“Blue Ant”) whereby the shareholders of High Fidelity agreed to sell all of the outstanding shares of High Fidelity to Blue Ant. Blue Ant acquired an initial 29.9% of the shares of High Fidelity immediately following the execution of the share purchase agreement. It will acquire the balance of the outstanding shares of High Fidelity subject to the satisfaction of certain conditions precedent, including, without limitation, receipt of Canadian Radio-television Telecommunications Commission approval.High Fidelity is Canada’s leading HD broadcaster with four highly popular HD channels: Oasis HD (Love Nature), HIFI HD (Music and Art), eqhd (Ideas and Cultures) and radX (Adventure). These premium channels provide Canadians with some of the best non-fiction programming from around the world, including concerts, movies and special programming.
Wildeboer Dellelce LLP acted for High Fidelity with a team that included James Brown, Nick Gray and Julie Anderson (corporate/securities) and Kevin Fritz and Deepti Asthana (tax).