VANCOUVER, Feb. 27, 2012 /CNW/ - Intelimax Media Inc. ("Intelimax" or the "Company") (OTC: IXMD) (CNSX: IMD) has announced the termination of its registration under the U.S. Securities Exchange Act of 1934.
Management determined that to comply with the U.S. reporting obligations would result in incurring considerable expenses, and that such expenses were not justified given the lack of continuing investor interest from the U.S. The Company's management has focused its efforts on the Company's new listing on the Canadian National Stock Exchange (CNSX) and is encouraged by the institutional investment interest on the Canadian market.
Consequently, on February 27, 2012, the Company filed a Form 15 to terminate the registration of its common stock under section 12(g) of the Securities Exchange Act and its reporting obligations under the Act. As a result, the Company's common stock is no longer quoted in the OTCQB but is quoted in the U.S.A. on the OTC Pink tier of the OTC market under the symbol "IXMD".
The Company's common shares continue to trade in Canada on the CNSX under the symbol "IMD".
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com) is an Internet media services company focusing on fantasy sports, online games, social media and web content. Using its' proprietary Social Media Platform, Intelimax offers fantasy sports and subscription based gaming on its web properties DraftTeam.com and Gamboozle.com.
For and on behalf of the board of Intelimax Media Inc.,
Glenn Little, President & CEO
Forward Looking Statements:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Intelimax or its management, identify forward-looking statements, and include, without limitation, statements relating to the ability of Intelimax to increase its exposure to the Canadian brokerage community, private investors and their ability to invest through RRSP's and TFSA's in Canada. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Intelimax's products, the competitive environment within the industry, the ability of Intelimax to continue to expand its operations, the level of costs incurred in connection with Intelimax's expansion efforts, economic conditions in the industry and the financial strength of Intelimax's customers and suppliers. Intelimax does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
Neither the CNSX Exchange nor its regulations services accepts responsibility for the adequacy or accuracy of this release.
For further information:
Phone: 1-866-742-0121 Email: [email protected]