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April 8, 2011

Blue Ant Media Inc. Completes First Phase of Investment in Glassbox Television Inc.

Blue Ant Media Inc. (“Blue Ant”) completed the first phase of its planned investment in Glassbox Television Inc. (“Glassbox TV”). Blue Ant acquired a minority stake of Glassbox TV through a combination of purchases of preferred shares from Glassbox TV treasury and outstanding convertible debentures and common shares from minority debentureholders and shareholders, respectively, of Glassbox TV. Minority debentureholders and shareholders had the option of selling their holdings to Blue Ant or maintaining them with a view to exchanging such holdings for common shares of Blue Ant upon completion of the second phase of Blue Ant’s investment in Glassbox TV. Blue Ant expects to complete the second phase of its investment upon approval of the CRTC and at such time will become a majority shareholder of Glassbox TV.

Wildeboer Dellelce LLP acted for the minority debentureholders and shareholders of Glassbox TV with a team that included Rory Cattanach and Colin Grosskurth.