Intelimax enters into a securities exchange agreement with Ride Media Group LLC
VANCOUVER, Nov. 14, 2012 /CNW/ - Intelimax Media Inc. ("Intelimax" or the
"Company") (CNSX:IMD) (OTCPink:IXMD) is pleased to announce the Company has
entered into a securities exchange agreement (the "Agreement") with Ride Media
Group LLC ("Ride Media"), a California limited liability company, and the
members of Ride Media (the "Members"), being Hardave Gill through his holding
company, Christine Buckley, Charles Champion and Gary Sproule. Pursuant to
the terms of the Agreement, the Company will acquire all of the issued and
outstanding membership units (the "Membership Units") of Ride Media in
consideration for the issuance of 12,000,000 common shares of the Company to
the Members, pro rata their interest in Ride Media. On closing, Ride Media
will become a wholly-owned subsidiary of the Company.
It is a condition of closing that the Company raise a minimum of $1,000,000 in
new funding for the Company and that a nominee of the Members', acceptable to
the Company and applicable regulators, be appointed to the Board of Directors
of the Company. It is a further condition of closing that the employers of
the Members enter into a consulting agreement with the Company pursuant to
which the Members will provide consulting services for a period of 12 months
in order to assist the Company in developing and advancing the Ride Media
technology and assets. Closing is expected to occur on or before December 21,
2012. At closing, a finder's fee will be paid in connection with this
The RIDE Media Platform:
The RIDE Media platform referred to as "Racing's Integrated Digital
Experience" (RIDE) is a multi-media interactive content-aggregator platform
that aggregates a large number of sports and horse-racing applications,
including websites and media content, into a user friendly, pre-populated but
highly customizable user interface. The RIDE platform is a unique solution to
grow and expand the Horse Racing Industry by attracting and engaging a more
diversified fan base with respect to age, ethnicity and income levels.
RIDE content will be displayed more dynamically by simultaneously showcasing
live and on-demand rich video content, social media, real time news, event
updates, data, games, websites, photos, charts and graphs all on a single
display screen on various types of devices. RIDE will be highly customizable
by the user, and will feature a dynamic user interface that will appeal to
savvy, youthful users.
RIDE will initially focus on Horse Racing Industry Associations' proprietary
databases to acquire new customers, using a "Customer Referral Fee" program to
create economic incentives for the Associations to participate in the
program. RIDE offers three potential revenue streams including Sponsorship
and Advertising, Transactional Revenue and Customer Referral Fees from the
Advance Deposit Wagering (ADW). The RIDE platform is also easily transportable
to other sports, media and business verticals with minimal additional
infrastructure or software development costs.
The RIDE project scope is to develop a cross platform
(Desktop/TouchScreen/Tablet) application to launch as Racing's fully
Integrated Digital Experience. RIDE will initially install a pre-populated
"Novice Fan" level dashboard and will evolve into an instantly scalable
"racing centric" platform with the ability to grow with the user as their
desire grows for more content, more knowledge and more tools. At the same
time RIDE will satisfy the "Sophisticated Racing Fan" by providing direct
access to all elements of racing's extensive network of information, content
and handicapping tools delivered to user devices in a highly customizable
Over the next several months, RIDE will roll out its platform in three
phases. Phase I will initially target the North American Thoroughbred Racing
Industry. Phase II will roll-out to the International Racing community and
Phase III will roll out to other pari-mutuel racing breeds
(Standard-bred/Harness, Greyhound and Quarter-horse).
"We are extremely excited about the proposed acquisition of RIDE Media", said
Michael Young, President of Intelimax. "The addition of RIDE will complement
the Company's existing Fantasy Sports platform, while offering its members new
and exciting entertainment options. Conversely, the inclusion of fantasy
sports and gaming content will appeal to the horse racing fan's demographic
profile and will provide cross-over entertainment, referral fee and
supplemental marketing opportunities for Intelimax."
The Ride Media Group LLC Members:
Charles F. Champion
Managing Partner - Paladin Capital Partners, LLC
Chuck Champion founded Paladin Capital Partners after successful engagements
as Chairman and Chief Executive Officer of several U.S. publicly traded
companies. An accomplished C-suite executive with experience in the media and
gaming industries, Champion's business clients benefit from an extensive
background in revenue and customer expansion. He has widely lectured on the
use of social media in player development and has been recognized as a forward
thinking strategic executive in the convergence of gaming, media, and gambling.
Mr. Champion was responsible for leading Youbet.com from a company on the
brink of financial failure to the largest and most successful advanced deposit
wagering company in the U.S. horse racing industry. From 2002 to 2007, he
transformed its Internet operations, repositioned its content offerings,
branded its unique service and reward components, and solidified its relations
with race content providers. Under his leadership,Youbet.com had more than
three years of consecutive double-digit growth in gross revenue. Youbet,
founded in 1997, exceeded $750 million in wagers processed in 2007. More than
90% of the total was wagered after Champion took over as CEO in 2002.
Prior to joining Youbet, Mr. Champion was president and publisher of the
Internet's Access Magazine, where he increased circulation threefold in two
years. He was senior vice president of circulation and marketing for the
Philadelphia Inquirer from 1995-98 and was responsible for halting significant
circulation declines. As Executive Vice President of the Chicago Sun-Times
from 1990-95 he improved EBITDA significantly and help position the company
for a successful recapitalization and sale. He had similar accomplishments
serving in executive level positions with the Los Angeles Daily News and
Freedom Newspapers, the publisher of the Orange County Register. .
Operating Partner - Paladin Capital Partners, LLC
Mr. Sproule has a "classic" CFO background with deep experience in accounting,
finance, treasury, SEC financial reporting, tax, budgets, strategic planning
and SOX. As important, he has a strong operations orientation having served
as chief operating officer at several companies. The combination makes him a
valuable asset for companies and/or investors looking to significantly improve
shareholder value in turnaround, restructuring or strategic scaling situations.
Mr. Sproule's professional accomplishments include:
-- Completed a major turnaround of 76 Products, a global retail
business, and scaled the business creating $1.2 billion in
shareholder value over a three-year period.
-- Scaled Mobile Messenger, a mobile products company, increasing
EBITDA from $6 million to $18 million over a 12-month period.
-- Completed a deep turnaround and subsequently scaled
Youbet.com, a public
Internet gaming company, increasing the market value from $8
million to over $185 million.
-- Developed, implemented a turnaround strategy for Disney
Interactive Studios, an interactive game developer/publisher,
resulting in a 20 % increase in annual EBITDA.
-- Negotiated and completed over $10 billion in financings, and
completed $5 billion in M&A transactions at UNOCAL, a Fortune
50 earth resource company.
Mr. Sproule has completed financial transactions involving private placements,
public master limited partnerships, and secondary public offerings. He has
installed corporate structure programs for companies anticipating liquidity
events and implemented performance based management systems to create cultures
of accountability and performance.
Mr. Sproule completed the Executive Management Program at Northwestern
University, earned an MBA from Eastern Michigan University and a BA from the
University of Wisconsin.
Hardave Gill Mr. Gill has been involved in the pari-mutuel racing industry for
more than 30 years developing and delivering unique solutions for on-track and
on-line products and services. A background in traditional racing technology
services including video production, post-production for simulcast
distribution, photo finish services, digital timing and tracking systems,
along with new media production, user interface development and global content
distribution networks experience, has provided Mr. Gill with a unique vision
for technology based racing and gaming services.
Mr. Gill is a successful entrepreneur having founded and operated several
companies in the media and racing industries including Post Time Technologies,
Bettor Solutions and Post Time Productions.
Mr. Gill has been successful in introducing technology solutions to the racing
industry by partnering with companies such as the Jockey Club's Equibase and
TrackMaster, Daily Racing Form and other on-line media outlets, along with
major racing associations such as NYRA, Churchill Downs Inc. and Magna
Entertainment. Through various organizations Mr. Gill has also worked
closely with racing related entities at numerous racetracks and casinos
throughout North and South America, Asia and the Caribbean.
As President and CEO of Post Time Technologies, Mr. Gill built what is
considered by the industry to be the leading developer of technology-based
products and services for the global Pari-Mutuel Racing Industry.
Christine Buckley Christine Buckley has served most recently as consulting COO
for the production house Aubade Creative LLC, where she transitioned the
company model to include digital marketing strategies and social media. For
14 years, she was a top executive with Lakeshore Entertainment Group. As
senior vice president of music and business & legal affairs, Buckley managed
business affairs operations for dozens of films, including the blockbuster
"UNDERWORLD" trilogy and the Oscar-winning "MILLION DOLLAR BABY." A pioneer
in the growing field of product integration, she also negotiated production
agreements, handled all aspects of musical scores and soundtracks, managed
delivery of films to distributors and handled business affairs transactional
work. Before joining Lakeshore, she was executive director of the nonprofit
Ed Garvey Sport Seminars and Institute of Sports Attorneys. A member of the
Illinois State Bar, Buckley received a J.D. from Chicago-Kent College of Law
and a B.A. from the University of Wisconsin-Madison in Advertising. An
inventor who owns a patent for a nationally-distributed yoga rug, she has
served as the vice chair of APECA, a nonprofit dedicated to preserving the
Peruvian Amazon rainforest, and on the Midwest Advisory Board of Best Buddies,
an organization that enhances the lives of individuals with intellectual
The securities issued and sold in the closing of the concurrent financing will
not be registered under the Securities Act of 1933 as amended (the "Act"), and
may not be offered or sold in the United States absent registration, or an
applicable exemption from registration, under the Act.
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com) is an Internet media services company
focusing on fantasy sports, entertainment, social media, advertising and web
content. Using its proprietary Social Media Platform, Intelimax currently
offers daily fantasy sports on its web property DraftTeam.com.
For and on behalf of the board of Intelimax Media Inc.,
Michael Young, President, CFO & Director
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", "will", "could" and similar expressions, as
they relate to the matters set out in this news release identify
forward-looking statements. Such forward-looking statements are based on the
current beliefs of management, as well as assumptions made by and information
currently available to management as to the outcome and timing of such future
events. Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors such as the
ability of the Company to complete the Ride Media transaction, to complete the
proposed financing in whole or in part or to obtain the required approvals for
the proposed transaction and proposed financing, all in a timely fashion or at
all and general economic conditions and market risks. Intelimax does not
undertake any obligation to update such forward-looking statements. Investors
are also directed to consider all other risks and uncertainties. Because of
the risks, uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information contained herein.
Neither the CNSX Exchange nor its regulations services accepts responsibility
for the adequacy or accuracy of this release.
Phone: 1-866-742-1759 Email:IR@Intelimax.com
SOURCE: Intelimax Media Inc.
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CO: Intelimax Media Inc.
ST: British Columbia
NI: INTERNET ORDER
-0- Nov/14/2012 23:53 GMT
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