Mr. Roger Plourde reports
INTEMA ACQUIRES PORTFOLIO OF CLIENT CONTRACTS
Intema Solutions Inc. has acquired a portfolio of client contracts and related assets from Cabestan-Canada, an e-mail marketing company.
"This acquisition is accretive and synergistic for Intema. These contracts are an excellent fit for our existing business, and these new clients will be able to benefit from the full range of Intema's service offering," said Roger Plourde, president and chief executive officer.
In consideration of these assets, Intema has paid a cash amount of $150,000, and also issued 1,304,347 common shares and three unsecured debentures.
Each debenture has a principal amount of $100,000, is interest free, has a term of five years, and is convertible at a price per common share equal to the greater of either of 11.5 cents or 85 per cent of the last closing price of Intema's common shares as of the conversion date. The first debenture becomes convertible on Aug. 31, 2015, the second as of Aug. 31, 2016, and the third as of Aug. 31, 2017.
The cash portion of the purchase price may be increased or decreased in 2017 by up to $50,000 based on the revenues that Intema earns from the portfolio of client contracts over the next three years.
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