TORONTO, June 24 /CNW/ - Jambo Mobile Solutions Inc., a fully integrated
mobile enablement company and a member of the SilverBirch Inc. (TSX-V: SVB)
group of companies, announced today that it has renewed annual partnership
agreements with Givex Corporation, Zoom Media and Intrawest.
Over ninety percent of Jambo revenues now come from multiyear contractual
relationships versus less than 10% when the company was acquired.
"We are very pleased to maintain these long term partnerships," said
Derek van der Plaat, CEO of Jambo Mobile. "They are driving annuity type
revenues which is what we have been focusing on since we acquired the company
and the subsequent mobile assets."
On a related note, the company has issued 416,666 shares to each
Derek Colfer and Matthew Kim as part of its earn out commitment related to
last year's acquisition of Jambo Mobile Solutions Inc. and as previously
announced on March 8, 2007. Certain trading restrictions apply to ensure
orderly market sales.
In other news, the Company announced that it has filed for TSX approval
to issue 23,750 common shares to Red Dawg Holdings Inc. in settlement of
indebtedness for consulting services. The payment is to be provided under the
terms of a service agreement entered into with that company, and the stock
will be issued at the May 26, 2008 closing price of $0.40 per share. The
principal of Red Dawg, Michael O'Farrell, also sits on the SilverBirch Board
About Jambo Mobile Solutions Inc.
Jambo Mobile Solutions (www.jambomobile.com) is a fully integrated mobile
media company with capabilities in mobile messaging and mobile content
delivery. Jambo provides cross-carrier connectivity to over 270 million cell
phones in North America. Jambo is a subsidiary of the SilverBirch Inc., a
publically traded digital media company based in Toronto. For more information
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the content of this news release.
For further information:
For further information: Derek van der Plaat, Chief Executive Officer,
SilverBirch Inc., Tel: (416) 621-6711 Ext 34, Email: firstname.lastname@example.org;
Paul Haber, SVP and CFO, SilverBirch Inc., Tel: (416) 621-6711 Ext 35, Email: