In Media Corporation, (IMDC) to acquire and merge with Hip Appeal, Inc.
Jun 30, 2015, 07:19 ET
CARLSBAD, Calif., June 30, 2015 /PRNewswire/ -- Following a letter of intent signed on October 28, 2014, the Board of In Media Corporation (IMDC) today announced that they had committed to a definitive agreement to acquire and merge with Hip Appeal Inc. for a total consideration of 67,300,205 shares of Common Stock. Howard Hayes, CEO of Hip Appeal was confirmed as CEO and Chairman of the Board of IMDC. IMDC will now be producing and selling women's leisure clothing under the Hip Appeal brand for sale into retail, on-line, including corporate identity branding, licensing and wholesale vendor trade shows events. The Company intends to extend its channels of distribution globally and increase product lines in the near future and, to reflect the new business focus, it will be changing its name from In Media Corporation to Hip Appeal Inc. and applying to FINRA for a new ticker symbol.
Going forward after the acquisition, the merged results of Hip Appeal will include the historic results of the old In Media Corporation together with the results of the old Hip Appeal starting July 1, 2015.
For more information see investor relations page at www.hipappeal.com
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of In Media Corporation or Hip Appeal Inc. to be materially different from the statements made herein.
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In Media Corporation
SOURCE In Media Corporation
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