SportsClick Inc.
TSX VENTURE : SCV

SportsClick Inc.

August 06, 2008 11:07 ET

SportsClick Inc. Announces Golden Acquisition

HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 6, 2008) - SPORTSCLICK INC., ("SportsClick" or the "Company") (TSX VENTURE:SCV) listed on the TSX Venture Exchange Inc. under the trading symbol "SCV" is pleased to announce the acquisition of Golden Silk-Screening Co. Ltd. ("Golden"), a private Nova Scotia company. Golden is a recognized leader in the print garment industry throughout the Maritimes with established distributors across Canada and the United States. Golden also holds three valuable product merchandising licenses for Trailer Park Boys, Bluenose II and Floppy Tops™.

SportsClick purchased Golden, which has current annual revenues of approximately $1,200,000, for an aggregate purchase price of $350,000 (the "Acquisition"). The purchase price is to be paid by the issuance at closing of an aggregate 625,000 common shares of SportsClick ("Common Shares") at an ascribed price of $0.40 per share and $100,000 in cash. The Acquisition is arm's length and is subject to regulatory and TSX Venture Exchange approval. The Common Shares to be issued in connection with the proposed acquisition will have a hold period of four months and one day from issuance.

Jack Ross, Sportsclick's CEO, said the Golden acquisition accomplishes a number of important objectives, "To leverage our direct buying relationships with apparel manufacturers we need to find additional markets for their products. In the tourism, school, team and corporate apparel sector the ability to deliver top quality, custom branding is the key to success. Golden brings to SportsClick 30 years of award-winning custom silk-screening and embroidery experience and with more than 5,000 client accounts the crossover sales synergies with our existing operations is significant."

Mr. Ross went on to say "This is a business where customers tend to be repeat buyers. Managing and growing long term customer relationships have been the main focus for Jim Baker and his sales team for over three decades. We are very pleased that Jim will continue to work with us as our Creative and Production Manager."

Jim Baker, Golden's founder and CEO, said "Over the past few years, the nature of our business has changed. Continued success requires reliable access to quality merchandise at highly competitive prices. SportsClick has the merchandise buying power and the financial resources needed to become a dominant player in Canada. I am excited about this opportunity and look forward to working with Jack and his team to make this happen."

Golden's production unit will be consolidated in SportClick's expanded headquarters in Bedford, Nova Scotia which was recently outfitted with state-of-the-art, high-speed custom branding and embroidery equipment.

SportsClick is a leading wholesaler of licensed, authentic sports merchandise & apparel nationwide.

SportsClick is listed on the TSX Venture Exchange under the symbol "SCV".

Certain statements contained in this document are "forward-looking statements". The projections, estimates and beliefs contained in such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or events to differ materially from those anticipated in any forward-looking statements. SportsClick believes the expectations reflected in those forward-looking statements are reasonable; however SportsClick cannot provide any assurance that these expectations will prove to be correct.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities, or a solicitation of proxies, in any jurisdiction, including but not limited to, the United States. The SportsClick Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of SportsClick's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of SportsClick. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause SportsClick's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in SportsClick's filings with the Canadian securities authorities. Accordingly, holders of SportsClick shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. SportsClick disclaims any responsibility to update these forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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