Vancouver: Lions Gate Entertainment’s board has signed off on a ‘going-forward’ strategy that includes acquisitions, the creation of more strategic alliances and a consolidation of its offices, says outgoing ceo Frank Giustra.

‘We’re going to grow quite aggressively to become a true mini-major in North America quickly,’ says Giustra, who stepped down as ceo March 21 and has been replaced by Jon Feltheimer at the Vancouver-based company.

Acquisition targets include production companies, distribution companies, film libraries and other operations that will enhance Lions Gate’s consolidated revenues, says Giustra. He adds that the company will trim its five offices in a consolidation, however, nothing final has been decided about the future of the Montreal, Toronto or New York offices.

One goal spurred by the need to build traditional and digital distribution, Giustra says, is to secure more partnerships like the alliances forged in January as part of the $33-million cash infusion from SBS Broadcasting, Vulcan Ventures, Capital Research, Fidelity Investments, Telemunchen and the former cochair of Salomon Smith Barney, Jamie Dimon.

In the new structure, Giustra becomes ‘non-executive’ chair and a key player in the company’s mergers and acquisitions initiative.

Meanwhile, film and television veteran Feltheimer and his business partner, investment banker Michael Burns – who together were instrumental in securing the aforementioned cash infusion – share the role of vice-chair.

Previously, Feltheimer was an exec vp at Sony Pictures and president of Columbia TriStar Television. Burns has served as head of the Prudential Securities and is, in the entertainment field, cochairman and cofounder of the Hollywood Stock Exchange, and chairman of Novica.com and l.a.-based Ignite Entertainment.

While Feltheimer will live and work in l.a., the company will remain Vancouver-based to take advantages of the lower cost of production, tax credits and other benefits, says Giustra. In fact, Lions Gate is looking to increase its stage space in Vancouver to increase its volume of production in Canada.

On March 29, Lions Gate shares closed at $5.00, $1.90 off its year high. The company’s 52-week low is $2.20 per share.