DHX has granted to the Underwriters an over-allotment option exercisable at any time up to 30 days after closing of the Offering to acquire up to an additional 1,300,050 Shares. In the event that the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be approximately CDN$74.8 million.

As previously disclosed, the net proceeds from the Offering will be used to repay borrowings under the Company’s term credit facility maturing July 31, 2024, fund branded content properties and associated global distribution plans as well as to pursue additional brand opportunities, and for general corporate and working capital purposes, including potential acquisitions.