Intelimax enters into a securities exchange agreement with Ride Media Group LLC
VANCOUVER, Nov. 14, 2012 /PRNewswire/ – 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
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 transaction.
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 platform.
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
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.
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
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
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
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 disabilities.
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
for the adequacy or accuracy of this release.
Phone: 1-866-742-1759 Email: IR@Intelimax.com
SOURCE Intelimax Media Inc.