World Outfitters Corporation: First International Acquisition



    BLAINVILLE, QC, Oct. 27 /CNW Telbec/ - World Outfitters Corporation (the
"Corporation") (TSX-V: SAF). On October 27, 2008, the Corporation announced
details of the terms under which it signed a letter of intent for the
acquisition of all the commercial activity and goodwill of Kukuzams Marketing
(PTY) Ltd. related to safaris organized in Africa.
    This acquisition is in line with the Corporation's strategic development
plan and complements its activities without changing them. Negotiations are
being carried out on an arm's length basis and will not result in any change
of control of the Corporation's structure or the emergence of a new
controlling shareholder. Should matters unfold in a normal fashion,
negotiations will result in the signing of an asset purchase agreement no
later than December 1, 2008.
    The purpose of this first international acquisition is to respond to
several demands from our clients wishing to travel with our organization
again, in order to ensure the same quality of service but with a product other
than caribou. Other targets are currently being analyzed in order to reach the
Corporation's objectives, which are the consolidation of the caribou hunting
industry in northern Quebec, which is very fragmented, as well as the
diversification of the range of products offered by World Outfitters
Corporation, both nationally and internationally, notes Nicolas Laurin,
President and Chief Executive Officer of the Corporation.
    The Corporation will not owe any commission or finder's fees in
connection with this transaction, which remains contingent on several factors,
including: 1) TSX Venture Exchange approval; 2) a positive outcome of the due
diligence; 3) the absence of any material adverse change; and 4) the
successful conclusion of employment agreements with key employees of the
target.
    The purchase price of the assets will be CA$500,000 which, subject to
approval of the TSX Venture Exchange, will be paid by the issuance of a number
of shares of the Corporation, subject to escrow, equal to the product of the
purchase price divided by the ten-day weighted average price of the shares of
the Corporation prior to the closing date as traded on the TSX Venture
Exchange. These shares will be released over the next five years based on the
EBITDA resulting from Kukuzams' activities.

    About World Outfitters Corporation

    As a recipient of the Gold award at the Gala des Grands Prix du Tourisme
in the Outfitter category, World Outfitters Corporation's mission is to
provide first class hunting and fishing trips. In order to become a world
leader in its field, the Corporation is consolidating its position by
acquiring companies based in North Eastern Quebec operating in its line of
business. It intends to rely on brand recognition in order to develop its
activities worldwide.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.




For further information:

For further information: Nicolas Laurin, President and CEO, World
Outfitters Corporation, (450) 571-1800; Renmark Financial Communications Inc.:
Maurice Dagenais, mdagenais@renmarkfinancial.com; Barry Mire,
bmire@renmarkfinancial.com; Media: François Trépanier,
ftrepanier@renmarkfinancial.com; Montreal: (514) 939-3989, Fax: (514)
939-3717, www.renmarkfinancial.com ; Toronto: (416) 644-2020, Fax: (416)
644-2021

Organization Profile

WORLD OUTFITTERS CORPORATION SAFARI NORDIK

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