{"success":true,"data":{"pressRelease":{"id":"53001","rtpr_id":"nGNX1s5Ccc","ticker":"RAY","exchange":"TSX","all_tickers":["RAY"],"title":"Stingray Receives Exemptive Relief to Facilitate Investment by Non-Canadians","author":"Globe Newswire","published_at":"2026-06-02T22:00:00.115Z","article_body":"MONTREAL, June 02, 2026 (GLOBE NEWSWIRE) -- Stingray Group Inc.\n(“Stingray” or the “Corporation”) (TSX: RAY) today announced that it\nhas received an exemption to treat Stingray’s subordinate voting shares and\nvariable subordinate voting shares as a single class for certain purposes,\nincluding for applicable take-over bid and early warning reporting\nrequirements under Canadian securities laws. Stingray applied for the\nexemption, which is effective immediately, to facilitate investment in its\nvariable subordinate voting shares by non-Canadians.\n\nPursuant to an application by Stingray, the securities regulatory authorities\nin each of the provinces and territories of Canada granted exemptive relief\n(the “Decision”) notably from (i) applicable take-over bid requirements,\nas contained under Canadian securities laws, such that those requirements\nwould only apply to an offer to acquire 20 per cent or more of the outstanding\nsubordinate voting shares and variable subordinate voting shares of Stingray\non a combined basis and (ii) applicable early warning reporting requirements,\nas contained under Canadian securities laws, such that those requirements\nwould only apply to an acquirer who acquires or holds beneficial ownership of,\nor control or direction over, 10 per cent or more of the outstanding\nsubordinate voting shares and variable subordinate voting shares of Stingray\non a combined basis (or 5 per cent in the case of acquisitions during a\ntake-over bid). A copy of the Decision is available on SEDAR+ at\nwww.sedarplus.ca.\n\nThe Decision takes into account that Stingray’s dual class subordinate share\ncapital structure was implemented solely to ensure compliance with the\nCanadian ownership rules under the Broadcasting Act (Canada). An investor does\nnot control or choose which class of Stingray shares it acquires and holds.\nThe class of shares ultimately available to an investor is only a function of\nthe investor’s status as a Canadian or non-Canadian. As a result, the number\nof shares outstanding in each class varies while the aggregate number of\nshares of both classes remains unchanged, giving shareholders little certainty\nas to the number of shares outstanding in each class at any given time.\nTogether, these considerations make it more difficult for investors,\nparticularly non-Canadian investors to acquire shares of Stingray in the\nordinary course without the apprehension of inadvertently triggering the\ntake-over bid rules and early warning reporting requirements (considering the\napplication of such rules to the acquisition of shares of a class) and could\npotentially restrict the interest of non-Canadian investors in Stingray’s\nshares for reasons unrelated to their investment objectives.\n\nAbout Stingray\nStingray Group Inc. (TSX: RAY), the world’s leading connected streaming\nmedia company, delivers the best curated audio and video content to consumers\nworldwide. As a pioneer in multiplatform streaming and distribution,\nStingray’s vast digital content portfolio includes thousands of live audio\nand radio stations, premium music channels, concerts and music documentaries,\nkaraoke products, as well as ambience and wellness channels. Its offering is\ndistributed via connected TVs, smart speakers, mobile, connected cars and\nretail. Reaching hundreds of millions of consumers every month, Stingray’s\nproducts offer an unparalleled advertising reach, enabling brands to connect\nwith an engaged audience across the world. Home to globally renowned brands\nsuch as TuneIn, Singing Machine, Stingray Karaoke and Qello Concerts, Stingray\nis powered by a worldwide team of more than 1,000 employees. For more\ninformation, visit www.stingray.com.\n\nForward-looking Information\nThis news release contains forward-looking information within the meaning of\napplicable Canadian securities law. Such forward-looking information includes,\nbut is not limited to, statements regarding the Corporation’s share capital\nstructure, investment in its shares, and the ability of its shareholders to\nevaluate shareholding positions and compliance with securities laws. Although\nthe Corporation believes that the expectations reflected in such\nforward-looking information are reasonable, such information involves risks\nand uncertainties and are based on information currently available to the\nCorporation. By its nature, this information is subject to inherent risks and\nuncertainties that may be general or specific. A variety of material factors\n– many of which are beyond Stingray’s control – affect the operations,\nperformance and results of Stingray and its business, and could cause actual\nresults to differ materially from the expectations expressed in any of this\nforward-looking information. Forward-looking information is identified by the\nuse of terms and phrases such as “may”, “will”, “would”,\n“should”, “could”, “expect”, “intend”, “estimate”,\n“anticipate”, “plan”, “foresee”, “believe”, and\n“continue”, or the negative of these terms and similar terminology,\nincluding references to assumptions. Please note, however, that not all\nforward-looking information contains these terms and phrases. Additional\ninformation about the risks and uncertainties affecting Stingray’s business\ncan be found under the heading entitled “Risk Factors” in Stingray’s\nAnnual Information Form for the year ended March 31, 2025, which is available\non SEDAR+ at www.sedarplus.ca. Consequently, all of the forward-looking\ninformation contained herein is qualified by the foregoing cautionary\nstatements, and there can be no guarantee that the results or developments\nthat Stingray anticipates will be realized or, even if substantially realized,\nthat they will have the expected consequences or effects on Stingray’s\nbusiness, financial condition or results of operation. Unless otherwise noted\nor the context otherwise indicates, the forward-looking information contained\nherein is provided as of the date hereof, and Stingray does not undertake to\nupdate or amend such forward-looking information whether as a result of new\ninformation, future events or otherwise, except as may be required by\napplicable law.\n\nFor more information, please contact:\n\nMathieu Péloquin, CPA\nSenior Vice-President, Marketing and Communications\nStingray Group Inc.\n(514) 664-1244, ext. 2362\nmpeloquin@stingray.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/49232d0d-61fd-4c44-bea8-7f846e291a6e)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX1s5Ccc","title":"Stingray Receives Exemptive Relief to Facilitate Investment by Non-Canadians","author":"Globe Newswire","ticker":"RAY","created":"2026-06-02T22:00:00.115Z","tickers":["RAY"],"exchange":"TSX","article_body":"MONTREAL, June 02, 2026 (GLOBE NEWSWIRE) -- Stingray Group Inc.\n(“Stingray” or the “Corporation”) (TSX: RAY) today announced that it\nhas received an exemption to treat Stingray’s subordinate voting shares and\nvariable subordinate voting shares as a single class for certain purposes,\nincluding for applicable take-over bid and early warning reporting\nrequirements under Canadian securities laws. Stingray applied for the\nexemption, which is effective immediately, to facilitate investment in its\nvariable subordinate voting shares by non-Canadians.\n\nPursuant to an application by Stingray, the securities regulatory authorities\nin each of the provinces and territories of Canada granted exemptive relief\n(the “Decision”) notably from (i) applicable take-over bid requirements,\nas contained under Canadian securities laws, such that those requirements\nwould only apply to an offer to acquire 20 per cent or more of the outstanding\nsubordinate voting shares and variable subordinate voting shares of Stingray\non a combined basis and (ii) applicable early warning reporting requirements,\nas contained under Canadian securities laws, such that those requirements\nwould only apply to an acquirer who acquires or holds beneficial ownership of,\nor control or direction over, 10 per cent or more of the outstanding\nsubordinate voting shares and variable subordinate voting shares of Stingray\non a combined basis (or 5 per cent in the case of acquisitions during a\ntake-over bid). A copy of the Decision is available on SEDAR+ at\nwww.sedarplus.ca.\n\nThe Decision takes into account that Stingray’s dual class subordinate share\ncapital structure was implemented solely to ensure compliance with the\nCanadian ownership rules under the Broadcasting Act (Canada). An investor does\nnot control or choose which class of Stingray shares it acquires and holds.\nThe class of shares ultimately available to an investor is only a function of\nthe investor’s status as a Canadian or non-Canadian. As a result, the number\nof shares outstanding in each class varies while the aggregate number of\nshares of both classes remains unchanged, giving shareholders little certainty\nas to the number of shares outstanding in each class at any given time.\nTogether, these considerations make it more difficult for investors,\nparticularly non-Canadian investors to acquire shares of Stingray in the\nordinary course without the apprehension of inadvertently triggering the\ntake-over bid rules and early warning reporting requirements (considering the\napplication of such rules to the acquisition of shares of a class) and could\npotentially restrict the interest of non-Canadian investors in Stingray’s\nshares for reasons unrelated to their investment objectives.\n\nAbout Stingray\nStingray Group Inc. (TSX: RAY), the world’s leading connected streaming\nmedia company, delivers the best curated audio and video content to consumers\nworldwide. As a pioneer in multiplatform streaming and distribution,\nStingray’s vast digital content portfolio includes thousands of live audio\nand radio stations, premium music channels, concerts and music documentaries,\nkaraoke products, as well as ambience and wellness channels. Its offering is\ndistributed via connected TVs, smart speakers, mobile, connected cars and\nretail. Reaching hundreds of millions of consumers every month, Stingray’s\nproducts offer an unparalleled advertising reach, enabling brands to connect\nwith an engaged audience across the world. Home to globally renowned brands\nsuch as TuneIn, Singing Machine, Stingray Karaoke and Qello Concerts, Stingray\nis powered by a worldwide team of more than 1,000 employees. For more\ninformation, visit www.stingray.com.\n\nForward-looking Information\nThis news release contains forward-looking information within the meaning of\napplicable Canadian securities law. Such forward-looking information includes,\nbut is not limited to, statements regarding the Corporation’s share capital\nstructure, investment in its shares, and the ability of its shareholders to\nevaluate shareholding positions and compliance with securities laws. Although\nthe Corporation believes that the expectations reflected in such\nforward-looking information are reasonable, such information involves risks\nand uncertainties and are based on information currently available to the\nCorporation. By its nature, this information is subject to inherent risks and\nuncertainties that may be general or specific. A variety of material factors\n– many of which are beyond Stingray’s control – affect the operations,\nperformance and results of Stingray and its business, and could cause actual\nresults to differ materially from the expectations expressed in any of this\nforward-looking information. Forward-looking information is identified by the\nuse of terms and phrases such as “may”, “will”, “would”,\n“should”, “could”, “expect”, “intend”, “estimate”,\n“anticipate”, “plan”, “foresee”, “believe”, and\n“continue”, or the negative of these terms and similar terminology,\nincluding references to assumptions. Please note, however, that not all\nforward-looking information contains these terms and phrases. Additional\ninformation about the risks and uncertainties affecting Stingray’s business\ncan be found under the heading entitled “Risk Factors” in Stingray’s\nAnnual Information Form for the year ended March 31, 2025, which is available\non SEDAR+ at www.sedarplus.ca. Consequently, all of the forward-looking\ninformation contained herein is qualified by the foregoing cautionary\nstatements, and there can be no guarantee that the results or developments\nthat Stingray anticipates will be realized or, even if substantially realized,\nthat they will have the expected consequences or effects on Stingray’s\nbusiness, financial condition or results of operation. Unless otherwise noted\nor the context otherwise indicates, the forward-looking information contained\nherein is provided as of the date hereof, and Stingray does not undertake to\nupdate or amend such forward-looking information whether as a result of new\ninformation, future events or otherwise, except as may be required by\napplicable law.\n\nFor more information, please contact:\n\nMathieu Péloquin, CPA\nSenior Vice-President, Marketing and Communications\nStingray Group Inc.\n(514) 664-1244, ext. 2362\nmpeloquin@stingray.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/49232d0d-61fd-4c44-bea8-7f846e291a6e)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-06-02T22:00:00.158770664Z","server_sent_at_ms":1780437600158},"received_at":"2026-06-02T22:00:00.237Z","source_url":null},"analysis":{"id":"42432","press_release_id":"53001","analysis_json":{"industry":{"label":"Media","sector":"Communication Services"},"redFlags":[],"eventType":"regulatory","narrative":"Stingray Group received exemptive relief from Canadian securities regulators to treat its subordinate and variable subordinate voting shares as a single class for take-over bid and early warning reporting purposes.\n\nThe exemption is effective immediately and was granted to facilitate investment by non-Canadians, who previously faced complexity due to the dual-class structure required by the Broadcasting Act.\n\nUnder the new rules, take-over bid requirements apply only to offers for 20% or more of the combined shares, and early warning reporting triggers at 10% ownership (or 5% during a take-over bid).","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Regulatory clearance simplifies share structure for international investors, removing reporting friction."},"keyFigures":{"customDimensions":{"takeover_bid_threshold":"20%","early_warning_threshold":"10%","early_warning_takeover_threshold":"5%"}},"quotedText":"The Decision takes into account that Stingray’s dual class subordinate share capital structure was implemented solely to ensure compliance with the Canadian ownership rules under the Broadcasting Act (Canada).","namedEntities":{"people":[{"name":"Mathieu Péloquin","role":"Senior Vice-President, Marketing and Communications"}],"products":["TuneIn","Singing Machine","Stingray Karaoke","Qello Concerts"],"companies":[{"name":"Stingray Group Inc.","ticker":"RAY","relationship":"filer"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"The company received regulatory exemptive relief to simplify its dual-class share structure for reporting purposes. This removes a friction point for non-Canadian investors but does not change the underlying economics or voting rights of the shares. It is a procedural facilitation rather than a fundamental business change."},"tickerRelevance":{"others":[],"primary":"RAY"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"procedural_regulatory_relief","sectorWeight":"neutral","householdBrandBoost":"low","marketCapAdjustment":"low"}},"event_type":"regulatory","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Stingray Group received exemptive relief from Canadian securities regulators to treat its subordinate and variable subordinate voting shares as a single class for take-over bid and early warning reporting purposes.\n\nThe exemption is effective immediately and was granted to facilitate investment by non-Canadians, who previously faced complexity due to the dual-class structure required by the Broadcasting Act.\n\nUnder the new rules, take-over bid requirements apply only to offers for 20% or more of the combined shares, and early warning reporting triggers at 10% ownership (or 5% during a take-over bid).","key_figures":{"customDimensions":{"takeover_bid_threshold":"20%","early_warning_threshold":"10%","early_warning_takeover_threshold":"5%"}},"named_entities":{"people":[{"name":"Mathieu Péloquin","role":"Senior Vice-President, Marketing and Communications"}],"products":["TuneIn","Singing Machine","Stingray Karaoke","Qello Concerts"],"companies":[{"name":"Stingray Group Inc.","ticker":"RAY","relationship":"filer"}],"dollarAmounts":[]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-06-02T22:00:56.907Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"mid-cap","eventGravity":"procedural_regulatory_relief","sectorWeight":"neutral","householdBrandBoost":"low","marketCapAdjustment":"low"}},"durationMs":56612,"modelName":"george-droid-qwen-72b"}}