01:23 PM EST, 12/31/2024 (MT Newswires) -- Boat Rocker Media ( BRMIF ) , trading near 52 week lows, Tuesday announced that it completed its purchase of the outstanding minority stake in Insight Productions Ltd.

Boat Rocker purchased the remaining 30% ownership interest from the minority shareholder of Insight Productions for $7.95 million plus an amount equal to 30% of Insight Productions' excess working capital -- including receipt of future tax credit and other receivables.

Boat Rocker will retain the benefit of 70% of such amounts.

John Brunton, the majority owner of the minority shareholder, will continue to lead Insight Productions as Chairperson & Chief Executive Officer.

This transaction completes Boat Rocker's purchase of the minority interest in Insight Productions that was announced on August 13.