Whiteknight Acquisitions III Inc. Announces Termination of Letter of Intent to Complete a Qualifying Transaction With Digital Underground Media Inc.

TORONTO, ONTARIO--(Marketwired - Jan. 16, 2015) -

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Whiteknight Acquisitions III Inc. ("WKA") (TSX VENTURE:WKA.P), a capital pool company, wishes to announce that it has terminated its previously announced letter of intent with Digital Underground Media Inc. ("Digital") dated August 7, 2014 (the "LOI") pursuant to which WKA and Digital were to complete a business combination intended to constitute WKA's Qualifying Transaction, as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange. WKA and Digital have mutually decided to terminate the LOI with no further obligations required of either party, and no funds were advanced by WKA to Digital.

WKA will continue to aggressively identify and evaluate opportunities for the purpose of completing its Qualifying Transaction. Trading of WKA's common shares is expected to resume trading on the TSX Venture Exchange shortly.

Neither TSX Venture Exchange Inc. 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.