Kobo Inc. has closed a $50-million financing to aid Indigo (TSX:IDG) – Dominion Lending Centres Clearlease

TORONTO – (April 20, 2011) Clearlease.com Reports Kobo Inc. has closed a $50-million financing aimed at helping the ereading company majority owned by Indigo Books & Music Inc. (TSX:IDG) fund its international expansion.

Indigo announced Tuesday April 19, 2011 it contributed $13 million of the $50-million in financing with the balance coming from leading institutional investors as well as current Kobo investor Cheung Kong Holdings.

“This round of investment adjusts Indigo’s majority ownership to 51 per cent,” said a statement issued Monday by Indigo, Canada’s largest book and specialty retailer.

“Kobo will use the new funding to continue its explosive growth internationally,” Greg Twinney, Kobo’s chief financial officer, added in a separate release.

“As the ereading space continues to heat up, Kobo is committed to providing an innovative experience that lets consumers read any time, anyplace and share their love of reading with friends.”

Kobo kicked off its European expansion last week, with the announcement of plans to launch local content stores in Germany — the largest book market outside of the United States — as well as in Spain, starting in May.

Heather Reisman, Indigo’s founder and CEO and Kobo chair, said “we are immensely proud of the strides made by Kobo into the global market.”

“This additional investment will foster continued explosive growth for Kobo,” Reisman added.

Indigo operates in all provinces under different banners including Indigo Books & Music; Indigo Books, Gifts, Kids; IndigoSpirit, Chapters, The World’s Biggest Bookstore and Coles.

Indigo shares were up 18 cents at $12.72 Tuesday afternoon on the Toronto Stock Exchange.

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Dominion Lending Centres Clearlease Commercial (DLC Clearlease / Clearlease.com ) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending / Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

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