eMedia Networks International Corporation
TSX VENTURE : EMM

eMedia Networks International Corporation

July 11, 2011 18:32 ET

eMedia Completes Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2011) - eMedia Networks International Corp. (TSX VENTURE:EMM) ("eMedia" or the "Corporation"), announced today that the Corporation has completed a Purchase Agreement to purchase all of the issued and outstanding shares of a private company ("PrivCo") for $988,753. On closing date, the Corporation will pay $750,000 of the purchase price with the balance paid over 24 months. The purchase price was negotiated at arm's length and no finders' fees will be paid. The acquisition is financed by a $750,000 loan from the Business Development Bank of Canada ("BDC") that shall bear interest equal to BDC's Floating Base Rate (currently 5% per annum) plus a variance of 8.5% per annum. The loan is secured by a first security interest on the Corporation's assets and a subordinated security interest on after-acquired assets, in addition to Conditional Guarantees of Mr. Reiter, CEO of eMedia and Mr. Athwal, founder and CFO of eMedia.

PrivCo provides customized music services in order that their clients can maximize their desired in-store branding image and as at the acquisition date has annual gross revenues of $950,000.

Mr. Athwal commented that the acquisition of PrivCo will enhance the business of the Corporation and will offer eMedia's current customers additional services to complement those currently offered by the Corporation.

About eMedia Networks

eMedia provides custom music programming for in-store retail brands and other consumer environments. Since 1991, eMedia has provided an end-to-end audio solution for retailers that require custom selected music to play in their stores. Through its low-cost emPlayer audio product, eMedia serves over 5,000 subscribers in North America. emPlayer is a proprietary audio player capable of playing CD-quality music and custom audio content from playlists controlled on-site or remotely through the Internet. The Company trades on the TSX Venture Exchange under the symbol EMM. For more information, visit www.emedianetworks.com.

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 this release.

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