Wolverine and ENIGMAMobil Sign Amended Letter of
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Jan 22, 2014 (ACCESSWIRE via COMTEX) -- 0.1Vancouver, British Columbia, January 22, 2014-Wolverine Exploration Inc. ("Wolverine") (OTCQB:WOLV) announced today that it has entered into an Amended Letter of Intent ("LOI") with the cyber security corporation ENIGMAMobil Inc.("Enigma"). Under the terms of the LOI Wolverine will acquire a 25% interest in Enigma for the purchase price of USD $5,000,000 of which USD $3,000,000 is to be paid in shares of common stock of Wolverine at a deemed price of USD$0.01 per share and USD$2,000,000 in cash. The LOI has an expiry date of June 30, 2014.
0.2Wolverine also announced today a proposed private placement of up to 50,000,000 common shares at USD $0.01 per share. The proceeds from the private placement will be used for working capital.
Business of Enigma
Enigma is building a fully secure mobile wireless software application for Apple iOS, Android and Blackberry developed through a full patented language technology with the capability to protect against unauthorized computer intrusion and fraud. The language, available to Enigma, to create the wireless security application was developed over a 12-year period is complete and operational and has been substantiated by IBM's Research Labs. When complete, Enigma will have the only ability to protect with certainty, the wireless marketplace worldwide currently in excess of 6 billion devices and growing at a rate of 50% annually. The Enigma mobile security application will be available to the marketplace within a 10-month period commencing upon receipt of the funding.
For additional information regarding Enigma please visit http://enigmamobile.com/ .
On behalf of the Board
Lee Costerd
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