Intelimax Announces Name Change, Consolidation and Financingadmin
Vancouver, BC, Canada, January 29, 2014 – Intelimax Media Inc. (the "Company") (CSE:IMD)(OTCPink:IXMD) (FWB:IMZ) announces that at its annual and special general meeting held on December 12, 2013, shareholders approved the consolidation of the Company’s issued and outstanding common shares. Subsequently, the Directors of the Company set the consolidation ratio at 5 old shares for 1 new share (the "Consolidation Ratio") and approved the change of the Company’s name. Consequently, effective as of opening of trading of the Canadian Securities Exchange on February 4, 2014, the Company will trade under the new name of "DraftTeam Fantasy Sports Inc." and its common shares will begin trading on a post-consolidated basis under the new stock symbol "DFS". The Company’s new CUSIP number will be 261424105 and ISIN number will be CA2614241057.
No fractional shares will be issued under the share consolidation and any fraction will be rounded to the nearest whole number. Following the consolidation, the Company will have 17,330,125 common shares issued and outstanding. All outstanding warrants and options of the Company will be adjusted accordingly to reflect the Consolidation Ratio.
Intelimax’s transfer agent, Computershare, will be mailing letters of transmittal to registered shareholders. The letter of transmittal describes the process by which shareholders may obtain new certificates representing their consolidated common shares. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not need to complete a letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare (Corporate Actions 1-800-564-6253). All shareholders who submit a duly completed letter of transmittal along with their respective pre-consolidated share certificate(s) to Computershare will receive a post-consolidated common share certificate. Until surrendered, each pre-consolidated share certificate will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the consolidation.
Following the completion of the consolidation, the Company proposes to complete a non-brokered private placement pursuant to which the Company will issue up to 8,000,000 post-consolidated common shares at a price of $0.075 per post-consolidated common share, to raise gross proceeds of up to $600,000 (the "Financing"). The proceeds from the Financing will be used for general working capital. In connection with this Financing, the Company may pay a finder’s fee to eligible finders in accordance with regulatory policies.
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com) is a digital entertainment company focusing on fantasy sports and social gaming. Using its’ proprietary social gaming platform, Intelimax currently offers daily fantasy sports contests on its web property DraftTeam.com.
Phone: 1-866-742-1759 Email: IR@Intelimax.com
For and on behalf of the board of Intelimax Media Inc.
Michael Young, President & CFO
for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Intelimax does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.
Posted: January 29th, 2014 under ACCESSWIRE.