WildBrain Ltd. (TSX: WILD), the Toronto-based family entertainment company, announced on October 29, 2026 that the Ontario Securities Commission has granted an exemption order allowing the company to extend its ongoing substantial issuer bid under certain conditions. The Relief Order preserves WildBrain's flexibility in managing the bid's modified Dutch auction structure, where the final purchase price cannot be determined until all tenders are known. The Offer remains scheduled to expire at 5:00 p.m. Eastern time on November 3, 2026, and no decision to extend has yet been made.

Key Points

  • WildBrain Ltd. (TSX: WILD) is a global family entertainment company headquartered in Toronto, Ontario.
  • The Ontario Securities Commission granted an exemption order permitting WildBrain to extend its substantial issuer bid without first taking up all deposited shares.
  • The Offer seeks to purchase for cancellation up to C$20,000,000 of common shares at auction tender prices between C$1.30 and C$1.45 per share, in C$0.01 increments.
  • Investors should watch whether WildBrain announces an extension before 9:00 a.m. Eastern time on the next business day following the November 3, 2026 Expiry Date.

OSC Relief Order Removes a Regulatory Hurdle for the Dutch Auction Process

The exemption order granted by the Ontario Securities Commission relieves WildBrain from the requirement under subsection 2.32(4) of National Instrument 62-104 – Take-Over Bids and Issuer Bids. Under the Offer's modified Dutch auction structure, WildBrain cannot determine a single purchase price until all tenders — including any received during a potential extension period — are compiled. Without this relief, extending the Offer would have required the company to first take up all deposited shares, which is incompatible with how the auction pricing mechanism works. The Relief Order does not alter any existing terms of the Offer.

Offer Terms: Auction and Purchase Price Tender Options for Shareholders

Under the Offer, WildBrain shareholders may tender common shares through auction tenders at prices ranging from C$1.30 to C$1.45 per share in increments of C$0.01, or through purchase price tenders. WildBrain will purchase all shares taken up at a single clearing price determined in accordance with the Offer's terms. The company applied for the Relief Order as disclosed in its offer to purchase and issuer bid circular dated September 29, 2026, to maintain the flexibility to extend the Offer if warranted by tender volumes or other factors within the Offer's terms and conditions.

November 3 Expiry Stands Firm as WildBrain Confirms No Extension Decision Yet

WildBrain confirmed that no decision to extend the Offer has been made at this time. The Offer remains scheduled to expire at 5:00 p.m. Eastern time on November 3, 2026, unless extended, varied, or withdrawn. If an extension is announced, WildBrain has committed to issuing a news release by no later than 9:00 a.m. Eastern time on the next business day following the scheduled Expiry Date. Shareholders who have deposited shares may withdraw them at any time prior to the expiry of any extension period. Canaccord Genuity Corp. is acting as financial advisor and dealer manager for the Offer.