from TD/AT
TORONTO, Sep 07, 2006 (MARKET WIRE via COMTEX) -- In the news release, "Blackout Media Corp. Clarifies Preferred Share Dividend," issued earlier today by Blackout Media Corp. (PINKSHEETS: BKMP), we are advised by the company that the date of record for shareholders should be September 15th, 2006 rather than September 15th, 2005 as originally issued. Complete corrected text follows.
Blackout Media Corp. Clarifies Preferred Share Dividend
TORONTO -- September 07, 2006 -- Blackout Media Corp. (PINKSHEETS: BKMP), on September 1st, announced that the Board of Directors has declared a stock dividend, payable to shareholders of record of September 15th, 2006. The dividend will consist of ten thousand (10,000) free preferred shares of Blackout Media Corp. for every one (1) shares of BKMP held on September 15th, 2006.
Many shareholders are confused about this dividend; the following answers should help clarify the dividend:
1. Yes, the press release is correct: for every one common share of BKMP you will receive 10,000 preferred shares as long as you are a shareholder of record on the 15th of September.
2. For example, if you own 1,000,000 shares on the ex-dividend date you would get 10,000,000,000 preferred shares.
3. The preferred shares will have there own CUSIP number and trade separately under their own symbol as preferred shares -- different from the common shares.
4. NO, this is not an option; this is an outright grant to all shareholders. You have to do nothing, they will appear in your account a few weeks to a month after the 15th. I can't tell when they will appear; that is up the DTCC in New York and your brokerage firm.
5. The value of the shares is whatever the market assigns to the shares, it is a free market and they will assign a fair value to them. I can't tell you what it will be; that is not up to me.
6. A preferred shares is a non-voting stock that is similar to a debt instrument.
7. If you are a shareholder now you have common shares.
8. The preferred shares will be free trading shares.
9. A new symbol will be assigned by the NASD some time in the future; again I can't tell you when but we are anticipating some time this month.
10. The ex-dividend date will be set by the NASD, and as long as you own the common shares of BKMP on the ex-dividend date you will be a shareholder of record and you will be entitled to the dividend.
11. You will not be diluted by this dividend, because the preferred shares are non-convertible and non-voting; they do not affect the outstanding common shares of the company and as they will trade under a totally separate symbol your present common shares will continue to trade under the symbol of BKMP.
About Blackout Media Corp.:
Blackout Media Corp. is a holding company with an interest in Blackout Communications who is a diversified media and entertainment company conducting operations in digital television, VOD, PPV, radio, the Internet and print, under the brand name "The Fight Network." The activities of Blackout Media Corp. are conducted principally in Canada and the United States.
Safe Harbor
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
SOURCE: Blackout Media Corp.
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