SportsClick Inc.
TSX VENTURE : SCV

SportsClick Inc.

May 01, 2009 17:57 ET

SportsClick Inc. Provides a Corporate Update, Announces a Resignation From the Board of Directors and Stock Option Grants

HALIFAX, NOVA SCOTIA--(Marketwire - May 1, 2009) - SPORTSCLICK INC., ("SportsClick" or the "Company") (TSX VENTURE:SCV) listed on the TSX Venture Exchange Inc. under the trading symbol "SCV" is pleased to provide an update on various corporate matters.

Acquisition of Southprint Inc.

The closing date of the acquisition of Southprint Inc. has been extended an additional week from the anticipated closing date of April 30, 2009 in order to complete various closing documentation. Under the terms of the acquisition SportsClick will acquire Southprint in an all stock transaction. SportsClick will issue 6 million common shares to Southprint shareholders and will acquire 100% of Southprint.

Resignation of Director

The Company wishes to advice of the resignation of Mr. Clyde Beattie from the Board of Directors of SportsClick. Mr. Beattie has been a director of the Company for a number of years and Mr. Jack Ross, Director and CEO, on behalf of the Board of Directors wishes to thank Mr. Beattie for his past services and loyalty to the Company, particularly his assistance during the reverse take over. Mr. Beattie's resignation enables the appointment of Mr. Gerard Buckley to the Board.

Stock Option Grant

The Company announces today that, pursuant to its stock option plan, it has granted options to acquire up to an aggregate of 3,100,000 common shares of SportsClick to certain directors, officers, employees and consultants of the Company. Each of the options is exercisable for a two year term expiring on May 1, 2011 and exercisable until that time at a price of $0.18 per common share. All of the options vest immediately upon the date of grant. The options are subject to a four month hold period expiring September 2, 2009.

Information about SportsClick Inc.

SportsClick is a leading wholesaler of licensed, authentic sports merchandise and apparel across Canada. Its distribution network includes both independent and leading retailers including Ultramar and Petro-Canada convenience Stores, Husky Markets, Loblaws, London Drugs and Calgary Co-Op stores. The company is committed to expansion through strategic acquisitions of leading businesses in the specialty apparel and promotional merchandising sectors. Copies of SportsClick's documents may be obtained electronically from the SEDAR system at www.sedar.com or on the SportsClick's website www.sportsclick.ca.

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 disclaim any responsibility to update these forward-looking statements.

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.

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