CHUM Completes Share Offering

On July 14, 2003, CHUM Limited completed a public offering of 2,159,400 non-voting class B shares at $50.50 per share pursuant to a short form prospectus filed in all provinces of Canada. The aggregate gross proceeds of the offering were $109,049,700, of which CHUM’s gross proceeds were $106.05 millin. As part of the offering, Allan Waters Enterprises Limited, a private corporation, sold 59,400 of the shares.

In connection with the offering, TD Securities Inc. led a syndicate of underwriters that included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc. and Scotia Capital Inc.

CHUM was represented in-house by Denise Cooper, vice-president, legal and business, and by Fasken Martineau DuMoulin LLP with a team led by Aaron Atkinson and Roxanne McCormick (corporate and securities) and Alan Schwartz, Kathleen Hanly and Mitchell Thaw (tax). The underwriters were represented by Blake, Cassels & Graydon LLP, with a team led by Frank Arnone, Anoop Dogra and Erica Young (corporate and securities) and Peter Lee (tax).