SOURCE: InoLife Technologies Inc.

May 13, 2015 09:38 ET

InoLife Technologies Inc. Announces Letter of Intent for Acquisition

NEW YORK, NY--(Marketwired - May 13, 2015) - InoLife Technologies, Inc. (OTC PINK: INOL) (the "Company" or InoLife), a marketing and acquisition company that identifies brands and marketing properties for roll up and acquisition, today announced a LOI to acquire certain media assets assigned by Media Barber Corp. 20,0000 television minutes ("Barter Credits") owned by Sports Shop Network LLC, a Florida company ("Seller"). The television minutes total up to $3,166,000 in trade-dollar value.

The purchase price for the media asset shall consist of the following: (1) $100,000.00 (The "Principal Amount"), (2) $25,000 within 45 days after the execution of the definitive purchase agreement ("APA").

Purchaser and Seller agree to work on a mutually binding funding schedule, in addition to the Purchase Price, to provide necessary working capital to bring certain operations of the media asset's subsidiary into production. Additional capital in the amount of $500,000 will be funded over a period of 6 months after the "Principal Amount" has been paid.

CEO of INOL, Elizabeth Cirone, said: "We are very excited about the ongoing future relationship with Sports Shop Network LLC. InoLife Technologies and Sports Shop Network will combine to initiate unique media and marketing platforms in a very lucrative marketplace."

Domenic Casillo, CEO and President of Sports Shop Network, said: "This strategic alliance gives us the opportunity to take our marketing and media platform to a very exciting growth level. We are excited and look forward to moving forward with InoLife Technologies."

About InoLIfe Technologies Inc.:
InoLife Technologies Inc. (OTC PINK: INOL) is a marketing and brand acquisition company focused on accretive rollup acquisitions in the media marketing sector. The company is seeking to build a strategic acquisition portfolio which will aggressively build the balance sheet and create strong subsidiary revenue flow.

Forward-Looking Statements
Forward-Looking Statements: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

The Company assumes no obligation to update the information in this release.

Contact Information

  • Company Contact:
    Karl Schilling