Interline Resources Corp. (IRCED: OTC Pink No Information) | Interline Resources Corp. to Acquire QUICKflickUSA, Inc. Interline Resources Corp. (OTC Pink: IRCE), a Utah corporation, today announced the acquisition of QUICKflickUSA, Inc. (?QUICKflick?), a DVD rental kiosk company. Under terms of the agreement, IRCE will acquire 100% of the outstanding equity of QUICKflick in exchange for 60 million restricted shares of the Company?s common stock. The transaction structure specifies that 40 million of the restricted shares of the common stock will be subject to a lock-up agreement for two years from the date of the acquisition.
Founded in 2007, QUICKflick quickly became the leading DVD kiosk operator in Canada, doing business with major retailers that included Canada Safeway, 7-Eleven Canada and Rexall Drug Stores. Population density led the management team to concentrate its efforts in the United States, where it has over 30 DVD kiosk locations in Texas alone.
Tim Regnier, President and COO of IRCE, commented, ?We?ve now gained a strong entry into the highly attractive business of automated retail. The strategic acquisition of QUICKflick has the potential to be the platform for the expansion of automated retail delivery of products we envision. Automated retail is driving the growth of the retail industry; QUICKflick has the experience and the vision to create multiple kiosk platforms. We believe that our shareholders will substantially benefit from this transaction.?
The acquisition is effective immediately.
Forward-Looking Statement
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts
Lagano & Associates, Inc.
Pam Lagano, 727-480-3082
plagano@laganoassociates.com
Founded in 2007, QUICKflick quickly became the leading DVD kiosk operator in Canada, doing business with major retailers that included Canada Safeway, 7-Eleven Canada and Rexall Drug Stores. Population density led the management team to concentrate its efforts in the United States, where it has over 30 DVD kiosk locations in Texas alone.
Tim Regnier, President and COO of IRCE, commented, ?We?ve now gained a strong entry into the highly attractive business of automated retail. The strategic acquisition of QUICKflick has the potential to be the platform for the expansion of automated retail delivery of products we envision. Automated retail is driving the growth of the retail industry; QUICKflick has the experience and the vision to create multiple kiosk platforms. We believe that our shareholders will substantially benefit from this transaction.?
The acquisition is effective immediately.
Forward-Looking Statement
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts
Lagano & Associates, Inc.
Pam Lagano, 727-480-3082
plagano@laganoassociates.com
