TORONTO, Jan. 7 /CNW/ - iseemedia Inc. ("iseemedia" or the "Company" - TSX-V: IEE) announced today that further to its announcement of December 30, 2010 and following approval by the TSX Venture Exchange on
January 5, 2011, Synchronica plc ("Synchronica") (AIM:SYNC; TSX
VENTURE:SYN) the international provider of push email, instant
messaging and social networking services, has acquired the remaining
interest in iseemedia by way of an amalgamation (the "Amalgamation"),
such that iseemedia is now a wholly-owned subsidiary of the Company.
The Amalgamation of iseemedia with Synchronica Canada Inc. (a wholly
owned subsidiary of the Synchronica) is effective under the Canada Business Corporations Act on January 6, 2011.
As none of the shareholders of iseemedia has exercised dissent rights
with respect to the Amalgamation, on the effective date of the
Amalgamation each issued and outstanding iseemedia share (other than
those held by dissenting shareholders of iseemedia or Synchronica
Canada Inc.) was converted into 0.2687 of a share of the Company.
iseemedia shareholders are requested to return their iseemedia common
share certificates to Computershare Investor Services Inc., together
with the Letter of Transmittal enclosed with the management proxy
circular of iseemedia dated November 25, 2010, or contact their broker
directly, to receive their new share certificates of Synchronica. The
detailed instructions for the surrender of share certificates and the
address of Computershare Investor Services Inc. are set out in the
Letter of Transmittal. iseemedia shareholders are also advised that no
fractional shares of Synchronica will be issued in connection with the
About iseemedia Inc
iseemedia Inc. is a mobile software company focused on the
commercialization of a Service Delivery Platform (iseemail ™) for
delivering push Email services to the mass market and an advanced
Content Delivery Platform (iseedocs ™) 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 TSXV in Toronto since June 2005.
For more information, please visit: www.iseemedia.com.
Forward-Looking Statements: This news release includes certain forward-looking statements that are
based upon current expectations, which involve risks and uncertainties
associated with Synchronica's business and the environment in which
those businesses operate. 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 either Synchronica or its management. The
forward-looking statements are not historical facts, but reflect
Synchronica'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
in Section 8 (under the heading "Risk Factors Related to the Offer") of
the Circular contained in the take-over bid circular dated July 22,
2010 filed with respect to the Bid at www.sedar.com, as amended pursuant to related notices filed at www.sedar.com.
Synchronica 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. No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
SOURCE iseemedia Inc.
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