SOURCE: MediaMatic Ventures (Exercise for Life shell co)

March 09, 2011 16:01 ET

Exercise For Life Systems Announces Acquisition of MediaMatic Ventures Inc.

COCHRANE, AB--(Marketwire - March 9, 2011) - Exercise For Life Systems Inc. (OTCQB: EFLS) (the "Company") announced that on February 11, 2011, the Company acquired all of the outstanding common stock of MediaMatic Ventures Inc. ("MMV"), a leading provider of multimedia kiosks throughout Canada. As a result of the transaction, the stockholders of MMV became the majority stockholders of the Company. The exchange is being accounted for as a reverse takeover for accounting purposes. The Company has adopted the business of MMV. 

As a result of the transaction, all former officers and directors of the Company have resigned. Jeremy Ostrowski, MMV Founder and President, has been appointed the Company's new President and sole officer, and four other persons have been appointed as directors of the Company.

For more information regarding the exchange and regarding the new directors and officers of the Company, see the Company's filing on Form 8-K on February 11, 2011 with the SEC.

The Company intends to make application to change its name and ticker symbol, subject to FINRA approval.

About MediaMatic Ventures
Based in the Calgary, Canada suburb of Cochrane, MMV operates the only WiFi enabled kiosk providing multimedia content, including DVDs, video games and music; both digitally and physically. It currently has an installed base of more than 100 kiosks up and running throughout Canada, positioning MMV as the second largest provider in Canada.

Through additional investments, channel sales partners, content providers and retail partnerships, the Company intends to rapidly grow to become a premier provider of movies, games and other entertainment in North America across its network of next generation automated and digital DVD kiosks. For more information, visit www.mediamaticventures.com.

Safe Harbor
This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; the Company's ability to fund, purchase and place additional kiosks in productive locations;, availability of content on favorable terms; ability to defend intellectual property; competition; economic conditions; consumer demand and availability of growth capital.

Additional considerations and risk factors are set forth in reports filed with the SEC. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements.

Contact Information

  • Contacts
    MediaMatic Ventures
    Jeremy Ostrowski
    President
    Tel: 403.932.1808