SOURCE: DSS Digital Shelf Space Corp.

DSS Digital Shelf Space Corp.

February 25, 2015 08:30 ET

Digital Shelf Space Signs Letter of Intent to Acquire MOVIT Media Mobile Application Suite

VANCOUVER, BC--(Marketwired - February 25, 2015) - Digital Shelf Space Corp. (TSX VENTURE: DSS) (OTC PINK: DTSRF) (the "Company" or "DSS"), developer of at home fitness and lifestyle franchises, announced today that it has entered into a letter of intent with Intregen Holdings Pte. Ltd. ("INT") to acquire 100% of the MOVIT Mobile Application Suite ("MOVIT") from INT (the "Transaction") which includes rights to certain MOVIT existing and pending patents. INT is based in Singapore and is a leading incubator of mobile and media applications.

As consideration for the acquisition of MOVIT, DSS will issue to INT approximately 14,000,000 common shares in DSS (the "Consideration Shares"). INT intends to distribute the Consideration Shares to its shareholders on a pro rata basis, provided that no one shareholder of INT will hold more than 9.9% of the issued and outstanding shares of DSS immediately after closing of the Transaction.

"We are pleased with the acquisition of MOVIT, the media application we feel is going to be a tremendous lift in our overall marketing strategy for our lifestyle products, and opens the door to a potentially highly lucrative new revenue stream with its solution for huge roaming fees," said Jeffrey Sharpe CEO for DSS.

As part of closing of the Transaction, it is expected that Alexander Lang, one of INT's founding shareholders, will join DSS as its Chief Operating Officer and a board member, subject to DSS board approval and all other necessary approvals. 

The other key founding shareholders of INT are: Chairman of Singapore Post, Ho Kee Lim, former Chairman of the Singapore Land Authority, Greg Seow, and Spring Singapore -- a Singapore Government investment agency.

"DSS has a phenomenal set of lifestyle assets in its library and we are excited to add MOVIT to the list of assets," said Alexander Lang, on behalf of INT. "I am excited to be joining the DSS team and working with them to accelerate MOVIT's global reach and customer acquisition."

The Transaction is subject to the execution of definitive agreements and board and regulatory approvals as may be required.

About Intregen Holdings Pte Ltd.
Founded in 2008, Intregen is always pushing the boundaries to develop new communication technology and partnering for distribution. It has the expertise to patent and deliver them in the most cost effective and simplest deployment for our partners. Intregen's clients spread across Singapore and South East Asia.

About Digital Shelf Space Corp.
Digital Shelf Space is an independent producer and distributor of home entertainment content targeted at the fitness and sports instruction market. The Company has developed popular at-home fitness franchise GSPRUSHFIT® and at-home golf instruction series the TOURAcademy® Home Edition. Digital Shelf Space's overall content partnership strategy is to align itself with world-class, global brand partners. For more information please visit www.digitalshelfspace.com and to view the Company's products please visit www.gsprushfit.com, www.touracademydvds.com and www.flofit.com.

ON BEHALF OF THE BOARD

"Jeffrey Sharpe"
 CEO

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends,", "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the anticipated terms of the Transaction and the expected completion thereof; Mr. Lang's role In DSS following completion of the Transaction; the necessary approvals required to complete the Transaction; and the anticipated effect of the acquisition of MOVIT on DSS' overall marketing strategy and revenue stream.

In connection with the forward-looking information contained in this news release, Digital Shelf Space has made numerous assumptions, regarding, among other things, the integration of MOVIT Into our platform. While Digital Shelf Space considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Digital Shelf Space's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: Digital Shelf Space may not be able to complete the Transaction on the proposed terms or at all; actual results from the completion of the Transaction may differ substantially from anticipated results; negative effects of the acquisition of MOVIT on DSS' overall marketing strategy and revenue stream; and other trends affecting the entertainment industry.

A more complete discussion of the risks and uncertainties facing Digital Shelf Space is disclosed in Digital Shelf Space's Filing Statement dated November 16, 2010 and continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Digital Shelf Space disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:

    Jeff Sharpe
    CEO
    604.736.7977 ext.111
    jeff[at]digitalshelfspace.com

    Suite 214 - 1847 West Broadway
    Vancouver, BC, Canada V6J 1Y6
    Tel: 604-736-7977
    Fax: 604-736-7944
    Email: info[at]digitalshelfspace.com
    Website: www.digitalshelfspace.com