Intigold Mines Ltd. - TTAGIT Acquisition Completed
VANCOUVER, British Columbia, Dec. 11, 2012 /PRNewswire/ -- Intigold Mines Ltd. ("Intigold" or "the Company") (OTCQX: IDMNF) (TSX.V: IGD), announces that the Company is pleased to confirm that it has received final Exchange acceptance of its 51% interest in TTAGIT Social Networks Inc. ("TTAGIT") (the "Transaction"):
Pursuant to an investment agreement between the Company and TTAGIT, dated November 14, 2012, Intigold agreed to purchase and TTAGIT agreed to sell a 51% interest, subject to a 2.5% royalty, in TTAGIT, in consideration of Intigold paying to TTAGIT the aggregate sum of $300,000 in cash and funding $500,000 for the development and marketing of TTAGIT over a 12 month period. The Company has now received shareholder and final Exchange acceptance to the Transaction.
About TTAGIT Social Networks Inc.
TTAGIT holds all right, title and interest in and to certain assets relating to a "proprietary" social networking technology and online Internet commentary system, and the intellectual property rights therein.
TTAGIT, the first open-forum discussion social network and comment management system that permits users to comment on all URLs with one login, allows you to talk over any website without leaving the page. TTAGIT is a social networking tool where members can engage in conversations and participate in debates on sites and portals that currently do not allow live streaming. Contrary to most social media sites, TTAGIT is an open forum that is not just limited to the people you know or "follow."
Different from any other social network, TTAGIT's primary focus is on commenting and sharing at the source. The standard sharing platform of social networks is to bring information to the social network itself. TTAGIT not only brings information in but also leaves it where it belongs – the source. For example, with Facebook and Twitter a user can share a URL by posting to their wall or tweeting about it. With TTAGIT not only does it post to TTAGIT but you can also find the data on the source, the URL.
For information on Intigold and its projects, please visit us at www.intigold.com or call Lori McClenahan, President at 604-669-4677 or toll free at 1-888-895-5522:
INTIGOLD MINES LTD.
(signed "Lori McClenahan")
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Intigold Mines Ltd.