Sitebrand Inc.

Sitebrand Inc.

February 15, 2011 18:36 ET

Sitebrand Inc. Signs Strategic Agreement with Quest Capital Management Corp.

OTTAWA, ONTARIO--(Marketwire - Feb. 15, 2011) - Sitebrand Inc. (TSX VENTURE:SIB) is pleased to announce that it has entered into an agreement with Quest Capital Management Corp. to provide assistance in generating and assessing strategic opportunities for the Corporation. The Corporation intends to assess strategic opportunities to increase shareholder value for the shareholders of the Corporation. 

To assist with the ongoing steps of the Corporation, the Corporation intends to complete a private placement raising gross proceeds between $500,000 and $1,000,000 by the issuance of units at a price of $0.015 per unit (on a pre consolidation basis or $0.075 on a post consolidation basis, less the maximum discount permitted by the TSX-V). Each unit shall consist of one post consolidation common share and one whole common share purchase warrant whereby each warrant shall entitle the holder to acquire an additional post consolidation common share at a purchase price of $0.10 for a period of two years from the date of issuance. 

The Corporation also intends to call a shareholders meeting to consider, among other items, the approval of a consolidation of its common shares on the basis of 5 old for 1 new common share.

Disclaimer: Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The company assumes no obligation to update any forward-looking statements contained in this release. 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.

Contact Information

  • Sitebrand
    John Eckert
    Chairman of the Board