Blackout Media Corp (BKMP)

[hettygreen]

BKMP (was FCDH)Outlines 2Yr Stock Buyback Plan

December 19, 2005 - 9:00 AM EST
First Canadian American Holding Corporation (OTC: FCDH) today announced that its board of directors approved plans to buy back up to one billion of the company's stock over the next two years.

The stock buyback program approved by the board authorizes the company to buy back up to one billion of the company's stock over the next two years. The specific timing and amount of repurchases will vary based on market conditions, securities law limitations and other factors. The repurchases will be made using First Canadian's cash resources, and the program may be suspended or discontinued at any time without prior notice.

"We are confident in our long-term ability to grow revenue, profits and shareholder value through our innovation and execution," said Sandy Winick, First Canadian's President. "We will continue to make investments in The Fight Network, but we can now also provide significant additional value to shareholders over the next two years."

"As we looked at our choices, our priorities is to implement a stock-buyback program to add confidence to our shareholders in the long-term commitment we have to the company," Winick added.

About First Canadian American Holding Corporation:

First Canadian American Holding Corporation is a holding company with subsidiaries that conduct operations in areas of digital television, radio and the Internet under The Fight Network brand.

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.

http://www.fcahc.com/