Entertainment One in share issue

Planning to raise up to $16.6 million of equity

TORONTO -- Canadian producer Entertainment One on Thursday unveiled plans to raise up to $16.6 million of equity through a share placement.

E1, which released the vampire pic "Twilight Saga: New Moon" in Canada, the U.K. and Benelux through an output deal with Summit Entertainment, said 19.5 million shares were placed at up to 86 cents each, with the proceeds being used to fund a repurchase of $23.4 million in exchangeable notes at a discount.

For its full-year 2010, E1 also predicted its results will come in ahead of market expectations after a "strong" performance of its film slate in the third quarter.
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