Multiplied Media announces commencement of negotiations to acquire the UnoMobi Group



    CALGARY, June 4 /CNW/ - Multiplied Media Corporation (the "Company")
(TSX:V MMC), a Calgary-based provider of mobile local search services, today
announced that, further to its press release of June 1, 2009, it is proceeding
to negotiate with UnoMobi Inc. and Reward Phone International Inc. for the
acquisition of the UnoMobi Group ("UnoMobi"). Trading in the shares of the
Company was temporarily halted by the TSX Venture Exchange on June 1, 2009
pending clarification of certain matters in connection with the proposed
acquisition.
    The proposed acquisition is an arm's length transaction for the Company.
On closing of the acquisition, it is proposed that Marvin Igelman, Chief
Executive Officer of UnoMobi, Inc., and an additional nominee of UnoMobi (who
must be independent of UnoMobi and the Company), will be appointed to the
board of directors of the Company. Jeff Sagansky, current UnoMobi board
member, will not be part of management or a board member under the proposed
acquisition, although the Company will avail itself of Mr. Sagansky's
reputation and expertise in multimedia.
    Multiplied cautions that no definitive agreement has been entered into in
respect of the proposed acquisition and accordingly no assurance can be given
that the process contemplated by the letter of intent announced on June 1,
2009 will lead to a definitive agreement relating to the acquisition of
UnoMobi on the terms contemplated by the letter of intent or otherwise or any
other transaction. Multiplied does not intend to make any further
announcements or communications regarding this potential transaction until
either a definitive agreement has been reached or discussions are terminated
without such an agreement being reached. If a definitive agreement is reached,
further details of the transaction will be announced.

    
    About Multiplied Media Corporation
    ----------------------------------
    
    Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the mobile local search service available
over BlackBerry smartphones. Through agreements with directory and vertical
content providers in Canada, the United States and Europe, Poynt simplifies
finding and connecting with businesses, retailers and events wherever and
whenever it is most convenient for the consumer. Headquartered in Calgary, AB,
Canada, Multiplied Media trades on the TSX Venture Exchange under the symbol
MMC.

    
    About the UnoMobi Group
    -----------------------
    
    The UnoMobi Group consists of Reward Phone International Inc. (a
privately held Ontario corporation), UnoMobi, Inc. (a privately held Delaware
corporation) and Innovation LLC (a privately held Delaware corporation and
wholly-owned subsidiary of UnoMobi, Inc.). Reward Phone and UnoMobi are owned
by common shareholders. UnoMobi is a mobile software development company
focused on delivering innovative mobile messaging services to mobile
operators. UnoMobi has a unique approach for addressing the mobile services
ad-supported business opportunity that is non-intrusive and based on core IP.

    
    Forward-looking statements
    --------------------------
    
    This news release and related disclosure contains forward-looking
statements relating to the proposed acquisition of the UnoMobi Group and other
statements that are not historical facts, including statements regarding
potential benefits of the acquisition (such as the integration of technology
covered by UnoMobi's patent portfolio into the Company's technology, the
anticipated uses of such combined technology, the anticipated increases in the
distribution of the Poynt application, user counts and associated revenues and
greater revenue opportunities associated with the acquisition of the UnoMobi
patent portfolio), the proposed terms of the acquisition, the entering into of
a definitive agreement and associated lock-up agreements, projected timing of
closing the acquisition and the receipt of all necessary approvals and
satisfaction of all other customary closing conditions in connection with the
acquisition. Such forward-looking statements are subject to important risks,
uncertainties and assumptions. The results or events predicated in these
forward-looking statements may differ materially from actual results or
events. As a result, you are cautioned not to place undue reliance on these
forward-looking statements.
    These forward-looking statements are based on certain key assumptions
regarding, among other things: the ability of the Company to integrate the
technology covered by UnoMobi's patent portfolio into the Company's
technology, market interest in the combined technology, there being no
requirement to obtain approval of the Company's shareholders for the
acquisition, and the timing of obtaining required approvals and satisfying
closing conditions. Material risk factors that could cause actual results to
differ materially from the forward-looking information include, but are not
limited to: risks that the anticipated benefits of the acquisition will not be
achieved; risks that the technology cannot be combined as anticipated or that
the combined technology will function as expected, risks that the usage of the
combined technology will not result in anticipated revenues; risks that the
integration will take longer, cost more or result in more management
distraction than anticipated; risks that future resale of the shares issued in
the acquisition will have an adverse impact on the trading price of the
Company's common shares; the risk that closing of the acquisition could be
delayed if the Company is not able to obtain the necessary approvals on the
timelines it has planned; the risk that the acquisition will not be completed
at all if these approvals are not obtained or some other condition to the
closing is not satisfied; the deteriorating economic and market conditions
that could lead to reduced spending on information technology products;
competition in our target markets; potential capital needs; management of
future growth and expansion; the development, implementation and execution of
the Company's strategic vision; risk of third-party claims of infringement;
protection of proprietary information; customer acceptance of the Company's
existing and newly introduced products and fee structures; and the success of
the Company's brand development efforts; risks associated with strategic
alliances; reliance on distribution channels; product concentration; need to
develop new and enhanced products; potential product defects; our ability to
hire and retain qualified employees and key management personnel; and risks
associated with changes in domestic and international market conditions and
the entry into and development of new for the Company's products.
    The forward-looking statements contained in this press release are made
as of the date of this press release. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to
comment on expectations of, or statements made by, third parties in respect of
the proposed acquisition of the UnoMobi Group.

    
    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.
    





For further information:

For further information: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 444-4102, andrew.osis@multiplied.com; MEDIA CONTACT:
Margaret Glover-Campbell, Director, Communications, Multiplied Media
Corporation, (403) 444-4105, margaret.glover-campbell@multiplied.com

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MULTIPLIED MEDIA CORPORATION

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