Knightscove Announces Intent to Acquire 51% of RSKB Communications Inc.
2011年11月11日 - 3:06AM
Marketwired
KNIGHTSCOVE MEDIA CORP. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B)
(www.knightscove.com) ("Knightscove"), a leading Canadian
distributor of family entertainment, announced today the entering
into an agreement to acquire fifty-one percent (51%) of
Toronto-based RSKB Communications Inc. ("RSKB"), the owner of
SouthAsianLife.com ("SouthAsianLife.com"), subject to approval by
the TSX Venture Exchange.
SouthAsianLife.com is one of the largest ethnic sites in Canada,
with original daily coverage of politics, personalities,
entertainment, fashion and food. Updated hourly, it's a dynamic and
engaging resource that offers readers commentaries on the hottest
trends, health, beauty, fashion, shrewd dissections of breaking
national and local news, blow-by-blow accounts of TV's greatest
shows, the scoop on what's cooking with the latest top chefs and
more. Inspired by the vision to highlight who South Asians are at
their best, SouthAsianLife.com is the go-to guide for living the
South Asian life, wherever you are. SouthAsianLife.com attracts up
to 5 million hits daily.
"The team that Knightscove has put together is amazing. The
future is digital and content has and always will be king. That is
what we will be creating here, great content that is accessible
across all platforms: TV, Online, Mobile and Events using social
media in a very integrated way," says RSKB CEO Raaj Brar.
The purchase of RSKB and the appointment of Raaj Brar as
President of the newly formed Knightscove Digital compliments
Knightscove's recent announcement to acquire FDR Media Group Inc.
and the launch of Bollywood Times and Mehndi TV. Together, with the
digital initiatives of our other divisions, Knightscove intends to
deliver content to all digital platforms.
"We are extremely pleased to announce the appointment of Mr.
Brar as President of Knightscove Digital and the acquisition of his
company, RSKB Communications, into the Knightscove family. Our
intention in building Knightscove has always been to leverage all
content across all platforms. With the involvement of someone as
uniquely talented in the digital world as Mr. Brar, his knowledge
of Canada's largest visible minority will position us to
effectively manage our broadcast and digital initiatives," says
Leif Bristow, CEO of Knightscove Media Corp. "An additional
advantage to having Knightscove Digital is that it will allow us to
begin transitioning our proprietary libraries, including the
recently acquired Ellis Entertainment library of over 600 titles,
to online applications for rental and purchase."
Mr. Brar has extensive knowledge regarding the buying habits,
media habits, product preferences and cultural idiosyncrasies of
the two million South Asians that call Canada home. Mr. Brar's
knowledge of his community can be directly attributed to the
comprehensive online surveys he frequently conducts on the website
and throughout his social media network of over one million
fans.
The aggregate purchase price for fifty-one percent of RSKB was
set at $125,000.00. Of this amount, $50,000.00 is to be issued in
cash and $75,000.00 is to be satisfied through the issuance of
750,000 units of Knightscove (the "Units") at a price per Unit
equal to $0.10 (the "Purchase Price").
About Knightscove Media Corp.
Knightscove is a fully integrated entertainment company
specializing in the distribution, creation and financing of live
action feature films and television productions. The Canadian
company offers family-friendly third party and proprietary film and
television content through its Knightscove Family Films and
Knightscove-Ellis International brands.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release or the
information contained herein.
Contacts: For Knightscove Media/Knightscove Corporate: Leif
Bristow President and CEO
416.444.7900info@knightscove.comwww.knightscove.com
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