iseemedia Enters Agreement for the Sale of its Ownership in RealBiz360 Inc.
2010年8月20日 - 10:06PM
PR Newswire (Canada)
TORONTO, Aug. 20 /CNW/ -- TORONTO, Aug. 20 /CNW/ - iseemedia Inc.
(TSX-V: IEE) announced today, that it entered into a binding
agreement (the "Sale Agreement") with Ackren Ltd. pursuant to which
iseemedia has agreed to sell its interest in its majority owned
U.S. subsidiary, RealBiz360 Inc., along with certain other non-core
assets which are not related to the Company's wireless business. As
a condition to the offer (the "Offer") made by Synchronica plc to
acquire all of the issued and outstanding common shares and
warrants of iseemedia which was previously announced in a press
release dated July 20, 2010, iseemedia is required to dispose of
its interest in RealBiz360 and certain other non-core assets. The
sale of the Company's interest in RealBiz360 is expected to close
concurrently with, Synchronica taking up and paying for the
securities of iseemedia that have been tendered to the Offer. The
sale of RealBiz360 and the Company's other non-core assets to be
sold in accordance with the terms of the Sale Agreement will
satisfy the condition of the Offer noted above. In the event,
however, that all other conditions of the Offer have not been
either satisfied or waived and Synchronica does not take-up and pay
for the securities of iseemedia tendered to the bid, the sale of
RealBiz360 will not be completed and the Sale Agreement will be
terminated. The sale has been approved by the board of iseemedia
Inc. About iseemedia Inc. iseemedia Inc. is a mobile software
company focused on the commercialization of a Service Delivery
Platform (iseemail(TM)) for delivering push Email services to the
mass market and an advanced Content Delivery Platform
(iseedocs(TM)) for rich media adaptation and extremely
cost-efficient network delivery to mobile devices. The Company
maintains a broad portfolio of issued and pending patents that
cover content authoring, streaming and interactive viewing on
mobile devices. iseemedia was founded in March 2002 and has been
traded on the TSX-V in Toronto since June 2005. For more
information, please visit: www.iseemedia.com. (C) 2009 iseemedia
Inc. All rights reserved. iseemedia and iseedocs are either
Registered Trademarks or Trademarks of iseemedia Inc. in the United
States and or Canada. All other trademarks and trade names are the
property of their respective owners. Forward-Looking Statements
This news release includes certain forward-looking statements that
are based upon current expectations, which involve risks and
uncertainties associated with iseemedia's business and the
environment in which the business operates. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the
expressions "anticipate", "believe", "plan", "estimate", "expect",
"intend", and similar expressions to the extent they relate to the
Company or its management. The forward-looking statements are not
historical facts, but reflect iseemedia's current expectations
regarding future results or events. These forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from
current expectations, including the matters discussed under "Risks
and Uncertainties" in the Filing Statement filed on March 31, 2009
with the regulatory authorities. iseemedia assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the
forward-looking statements. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. %SEDAR: 00020202E David
Berman, CFO, iseemedia Inc., Tel: 905-761-5293,
davidb@iseemedia.com
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