/NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES/
TORONTO, Oct. 10 /CNW/ - Intuitivo Capital Corporation ("Intuitivo")
(TSXV: ITU.P), a capital pool company, announced today that it has agreed to
amendments to the terms of its proposed Qualifying Transaction with View 22
Technology Inc., operating as SceneCaster ("SceneCaster"), announced by the
company on July 2, 2008. The amendments provide for an extension of the
deadline date for completion of the transaction to November 30, 2008, a
reduction in the minimum amount required to be raised by SceneCaster in its
proposed concurrent equity private placement (the "Private Placement") from
$10 million to $6 million and an increase in the deemed price per Intuitivo
common share for purposes of the calculation of the SceneCaster exchange ratio
from $0.115 to $0.125. All other terms and conditions of the proposed
Qualifying Transaction remain the same.
Completion of the proposed Qualifying Transaction remains subject to a
number of conditions, including, but not limited to, the completion of the
Private Placement, acceptance by the TSX Venture Exchange and other applicable
regulatory approvals and all required shareholder approvals. All required
approvals of Intuitivo shareholders to complete the transaction were obtained
at an annual and special shareholders meeting held on September 4, 2008. There
can be no assurance that the Qualifying Transaction will be completed as
proposed or at all.
Investors are cautioned that, except as disclosed in the Filing Statement
to be prepared in connection with the proposed Qualifying Transaction, any
information released or received with respect to the Qualifying Transaction,
including the information contained in this news release, may not be accurate
or complete and should not be relied upon. Trading in the securities of a
capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved or disapproved the contents
of this press release.
For further information:
For further information: Michael Moyal, Vice President, Intuitivo
Capital Corporation, Tel: (905) 761-5295, E-mail: email@example.com