SportsClick Inc.

SportsClick Inc.

July 10, 2008 14:11 ET

Okalla Announces Completion of Amalgamation and Listing of SportsClick Inc.

CALGARY, ALBERTA--(Marketwire - July 10, 2008) -


Okalla Corp. ("Okalla" or the "Corporation") is pleased to announce that it has completed its amalgamation with Racing Around Wholesale Inc. to form SportsClick Inc. The listing of the shares of SportsClick Inc. (TSX VENTURE:SCV) ("SportsClick") on the TSX Venture Exchange under the trading symbol "SCV" is anticipated to begin on the morning of July 10, 2008.

Concurrently with the amalgamation, SportsClick completed its fully subscribed previously announced brokered equity offering (the "Offering") wherein it raised $500,000 from the sale of Units of Amalco (the "Units") at a price of $0.40 per Unit. Each Unit consists of one (1) Common Share (a "Common Share") and one-half (1/2) of one non-transferable Common Share Purchase Warrant (a "Warrant"), each whole Warrant entitling the holder thereof to purchase one (1) additional Common Share at a price of $0.50 for a period of 18 months from the date of issue. Haywood Securities Inc. was the Agent pursuant to the Offering.

SportsClick intends to utilize the net proceeds from the Offering to aggressively pursue acquisition opportunities complementary to SportsClick's current core business and for general operating and working capital purposes.

As a result of the foregoing, the outstanding capital of the Corporation upon completion of the Amalgamation and Offering consists of the following: 41,434,479 SportsClick Common Shares, 675,000 Warrants and 87,500 agent's options. An aggregate of 35,682,933 of the foregoing shares will be subject to 36-month escrow restrictions, with ten percent (10%) of such escrowed shares being releasable forthwith and a further fifteen percent (15%) being releasable in each six-month period thereafter.

For further details regarding the Qualifying Transaction, including detailed profiles of the individuals that have been appointed officers and directors of the Corporation, readers are encouraged to make reference to the Information Circular of the Corporation that was filed on May 20, 2008 and is available under the Corporation's profile at www.sedar.com.

About SportsClick

SportsClick is a privately held company incorporated under the laws of Nova Scotia which is engaged in the sale and distribution of quality licensed sports apparel and accessories with trademarked logos and images focusing on the sports of auto racing, hockey, football, basketball and baseball throughout the North American marketplace.

The company was established as a distribution store in 1992 and created an online store in 1999. It currently operates with 14 employees out of its 12,000 square foot facility in Nova Scotia which houses the combined sales office, administration, and product warehouse. Over the past 2 years, Racing Around has expanded from its primary focus on licensed NASCAR merchandise to those of the NHL, NFL, CFL, NBA and Major League Baseball. The expansion has seen the company's revenue jump from $1.4 million in 2005 to over $2.73 million in 2006, a 100% increase.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities, or a solicitation of proxies, in any jurisdiction, including but not limited to, the United States. The SportsClick Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of SportsClick's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of SportsClick. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause SportsClick's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in SportsClick's filings with the Canadian securities authorities. Accordingly, holders of SportsClick shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. SportsClick disclaims any responsibility to update these forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

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