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Mega Brands Inc. has been awarded a multiyear, global licence by The Jim Henson Co. to develop construction toys based on the new animated children's series Dinosaur Train, the Montreal-based toy maker announced Tuesday.

Financial terms of deal were not disclosed.

It gives Mega Brands rights to develop all new construction toy sets based on characters in the television series for preschoolers.

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The Mega Bloks-licensed product offerings will launch in North America in the spring of 2011 and worldwide in the fall.

Tuesday announcement was the latest in a string of positive developments for the struggling toy maker.

Last month, the Toronto Stock Exchange determined that the company had met requirements to continue its listing on the exchange after completing a capital restructuring that reduced its debt by $300-million (U.S.) - mainly by issuing new equity.

Mega Brands also disclosed last month that its first-quarter sales - with help from toys for preschoolers based on Thomas the Tank Engine - increased for the first time in three years.

It also benefited from strong demand for the company's core Mega Bloks building toys. Mega Brands s also hoping that a summer movie tie-in with the Iron Man franchise will also bear fruit.

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