Exercise For Life Systems Announces Acquisition of MediaMatic Ventures Inc.
09 Marzo 2011 - 3:01PM
Marketwired
Exercise For Life Systems Inc. (OTCQB: EFLS) (the "Company")
announced that on February 11, 2011, the Company acquired all of
the outstanding common stock of MediaMatic Ventures Inc. ("MMV"), a
leading provider of multimedia kiosks throughout Canada. As a
result of the transaction, the stockholders of MMV became the
majority stockholders of the Company. The exchange is being
accounted for as a reverse takeover for accounting purposes. The
Company has adopted the business of MMV.
As a result of the transaction, all former officers and
directors of the Company have resigned. Jeremy Ostrowski, MMV
Founder and President, has been appointed the Company's new
President and sole officer, and four other persons have been
appointed as directors of the Company.
For more information regarding the exchange and regarding the
new directors and officers of the Company, see the Company's filing
on Form 8-K on February 11, 2011 with the SEC.
The Company intends to make application to change its name and
ticker symbol, subject to FINRA approval.
About MediaMatic Ventures Based in the
Calgary, Canada suburb of Cochrane, MMV operates the only WiFi
enabled kiosk providing multimedia content, including DVDs, video
games and music; both digitally and physically. It currently has an
installed base of more than 100 kiosks up and running throughout
Canada, positioning MMV as the second largest provider in
Canada.
Through additional investments, channel sales partners, content
providers and retail partnerships, the Company intends to rapidly
grow to become a premier provider of movies, games and other
entertainment in North America across its network of next
generation automated and digital DVD kiosks. For more information,
visit www.mediamaticventures.com.
Safe Harbor This news release includes
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
While these statements are made to convey Company progress,
business opportunities and growth prospects, readers are cautioned
that such forward-looking statements represent management's
opinion. Whereas management believes such representations to be
true and accurate based on information and data available to the
Company at this time, actual results may differ materially and are
subject to risk and uncertainties. Factors that may cause actual
results to differ include without limitation: dependence on key
personnel and suppliers; the Company's ability to fund, purchase
and place additional kiosks in productive locations;, availability
of content on favorable terms; ability to defend intellectual
property; competition; economic conditions; consumer demand and
availability of growth capital.
Additional considerations and risk factors are set forth in
reports filed with the SEC. Readers are cautioned not to place
undue reliance upon these forward-looking statements; historical
information is not an indicator of future performance. The Company
undertakes no obligation to update publicly any forward-looking
statements.
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Contacts MediaMatic Ventures Jeremy Ostrowski President
Tel: 403.932.1808
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