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CINAR to Launch Live Entertainment Division

CINAR Corporation, an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families, is launching a live entertainment division.

CINAR has entered into an agreement to acquire the live touring rights to two properties. However, the finalization of the agreement is conditional upon due diligence and certain conditions set out in the agreement being met to the satisfaction of CINAR's board. If the company proceeds with the acquisition of the live touring rights to the two properties, it will be committed to spend approximately $6.6 million on their development and production over a minimum of two years.

Due to confidentiality agreements that are in place with respect to the two properties, neither the names of the properties that may be acquired can be disclosed at this time.

CINAR children programs include Zoboomafoo, Arthur, Mona, Wimzie and Caillou.