Cinar Corporation reports the underwriting group for its March 9 closing share offering has exercised its full over-allotment option to purchase 1,050,000 limited voting shares at us$20 a share. The additional proceeds of us$19.9 million bring total proceeds to Cinar to us$143.6 million, less the cost of the offering.

The offering was sold in both Canada and the u.s. and includes 6.5 million shares from treasury and 500,000 shares from companies controlled by Cinar's principal shareholders.