Vancouver: International Keystone Entertainment of Vancouver has withdrawn a public offering announced March 10. The producer that owns the Air Bud family movie franchise says the downward shift in market forces prompted the withdrawal.

The money would have been used to expand its North American distribution activities, finance additional live-action feature film production primarily for the family and youth markets, and augment its post-production facility.

Research Capital and Yorkton Securities were to be the underwriters.

No value was attached to the public filings of the preliminary prospectus, however, shares were trading on the Montreal Exchange at $0.95 at the time.

The last share trade, which was on May 15, was at $0.61. The year high is $1.60 and the low is $0.35 per share.