Marine Drive Mobile Corp.
OTC Bulletin Board : MDMC

Marine Drive Mobile Corp.

October 05, 2011 10:46 ET

Marine Drive Mobile Corp. Closes I Like a Deal, LLC Purchase

SAN FRANCISCO, CALIFORNIA--(Marketwire - Oct. 5, 2011) - Marine Drive Mobile Corp. (OTCBB:MDMC) ("Marine Drive" or the "Company") announced today the closing of the Company's purchase of I Like A Deal, LLC ("ILAD"), a San Francisco-based developer of premium group buying web-based software. The purchase agreement was first announced August 26, 2011, and was subject to normal due diligence, including an audit of ILAD.

"We are extremely pleased to have finalized the purchase of I Like A Deal, and can now move on to integrating their business and software into Marine Drive," said Colin MacDonald, Marine Drive Mobile Corp. Founder and President. "Marine Drive plans to leverage ILAD's platform to further support merchants interested in capitalizing on daily deal coupons and mobile transactions. We also plan to further expand the scope and capability of the ILAD platform to support the Company's lifestyle vertical websites, beginning with our premium golf deals website, eTeeoff.com."

I Like A Deal operates the "Daily Deal" website (www.ILikeADeal.com) in San Francisco, which allows users to find the daily "best of the best" deals locally and nationally. The site offers users discounts on products and services in the automotive, active life, education, food, fitness, hotel, restaurant, and retail sectors. I Like A Deal also operates ILikeADealPro.com, a delivery platform that enables merchants and retailers to quickly and easily set up their own online group buying businesses. I Like A Deal (ILAD) provides business owners access to a user-friendly content management system that allows them to create, manage and brand their own daily deals. ILAD processes all the sales and credit card transactions, collects the money and sends payments to the merchant. The founders of ILAD designed the system so that almost any business or individual could operate and deploy their own deals in just minutes.

ILAD's co-founder Andrew Strauss is now Marine Drive's Chief Technical Officer. Strauss will be working with the management team at Marine Drive to help drive the Company's technology vision.

About Marine Drive Mobile Corp.

Marine Drive Mobile Corp. (MDMC) develops transactional Mobile Commerce (m-Commerce) applications and services, connecting merchants with consumers through proprietary software and business processes. We provide merchants, brands, media companies and consumers easy access to a stable and secure Software as a Service (SaaS) based platform that generates value and drives revenues. MDMC's technology ultimately makes a positive impact on local economies by encouraging sustainable repeat traffic to local businesses. The Company intends to attract merchant customers by targeting niche consumers in highly sought-after lifestyle verticals through an e-coupon platform. For further information, please contact Marine Drive Mobile Corp. at 415.839.1055 or visit www.marinedrive.com.

This news release may contain "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Company assumes no obligation for the accuracy or completeness of those forward looking statements and undertakes no obligation to revise these forward looking statements to reflect subsequent events or circumstances. Readers are cautioned not to place undue reliance on the forward-looking statements made in this news release. Investors are urged to consider closely the disclosure in the Company's Form 10-K and subsequent filings, which may be obtained directly from the Company, or from the SEC website at http://www.sec.gov/edgar.shtml.

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