SOURCE: Cinnabar Ventures, Inc.

Cinnabar Ventures, Inc.

January 26, 2010 11:10 ET

Cinnabar Ventures, Inc. Acquisition of YIPPY, Inc. Is Finalized

FORT MYERS, FL--(Marketwire - January 26, 2010) - Cinnabar Ventures, Inc. (OTCBB: CNBR) ("Cinnabar" or the "Company") announces the completed acquisition of YIPPY, Inc., a private Delaware corporation ("YIPPY"). Pursuant to the share exchange agreement dated January 25, 2010 (the "Agreement"), by and among Cinnabar, YIPPY and the shareholders of YIPPY (the "YIPPY Shareholders"), the YIPPY Shareholders exchanged 100% of the outstanding stock of YIPPY for 2,340,000 shares of Cinnabar's common stock, representing approximately 10.51% of the issued and outstanding capital stock of Cinnabar, post-acquisition. Pursuant to the terms of the Agreement, YIPPY became a 100% wholly-owned subsidiary of Cinnabar. Richard Granville, Chief Executive Officer of Cinnabar, is also the Chief Executive Officer and former majority shareholder of YIPPY.

To date, YIPPY has primarily served as a holding company for various computer technology assets. Richard Granville, Cinnabar's Chairman and Chief Executive Officer, was optimistic with regard to the value the YIPPY assets bring to the Company. He said, "The YIPPY acquisition is significant in that it affords us the opportunity to rapidly deploy key elements of our Company strategy. In particular, it allows us to fully enable our media and software efforts for our target markets."

Rick Lisa, the Company's President and Chief Operating Officer, added, "The YIPPY acquisition contains specially developed software capabilities that allows Cinnabar to implement our distribution strategy for owned content, applications and client software to the youth and family markets, which is a key focus of our business."

Beyond the applications and client software, the YIPPY acquisition integrates the Company's Cloud OS and database structures, which are critical to the operation of the Company and implementation of systems that will also enable Cinnabar's rapid deployment of business to business capabilities.

Through the acquisition of the YIPPY properties, Cinnabar will be able to customize user environments and match those to the operational needs of the Company's business partners.

Mr. Granville continued, "Given the advanced state of the tools YIPPY brings to Cinnabar, we will be able to rapidly integrate our businesses and begin deployment of revenue producing cloud solutions within weeks of completing the transaction."

About Cinnabar Ventures, Inc.

Based in Fort Myers, Florida, Cinnabar Ventures, Inc.,, is a new economy technology company that develops technologies and relationships for Web-OS systems in the Cloud computing sector.

Forward-Looking Statements

Pursuant to The Private Securities Litigation Reform Act of 1995: The statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. We assume no obligation to publicly update or revise any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, even if new information becomes available in the future. Additional information on risks and other factors that may affect the business and financial results of Cinnabar Ventures, Inc. can be found in the filings of Cinnabar Ventures, Inc. with the U.S. Securities and Exchange Commission.

Contact Information

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