Business
Section Rouge Media proposes to acquire Evolutra
Section Rouge Media proposes to acquire Evolutra.
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[{"type":"text","content":"\n\n\n\nLONGUEUIL, QC, July 12 /CNW Telbec/ - SECTION ROUGE MEDIA INC. (TSX-V:\nSRO) ("Section Rouge Media") announced today that it has signed a binding\nletter of intent dated June 14, 2007, for the acquisition (the "Acquisition")\nby Section Rouge Media of 100% of the issued and outstanding shares of\nEvolutra Corporation / Corporation Evolutra ("Evolutra Corporation").\n\n\n"This acquisition will enable Section Rouge Media to enter the web media\nmarket quickly and significantly and will also contribute to the development\nof new and essential business opportunities for our magazines", said\nRichard Desmarais, President and Chief Executive Officer of Section Rouge\nMedia.\n\n\nEvolutra Corporation is an Ottawa/Gatineau-based company, with offices in\nMontreal and Quebec City, specializing in web applications development and has\nrecently developed an on-demand web portal designed to help businesses and\nindividuals to easily create, manage and maintain web sites, e-mails,\ne-commerce, e-learning, analytics and marketing tools. Evolutra Corporation\nhas four major divisions: a Development Division, an e-Learning Division, an\ne-Commerce Division and an Identification Systems Division. Evolutra\nCorporation is a company incorporated under the Canada Business Corporations\nAct. As of the date of this press release, there are 30,500,000 issued and\noutstanding Common Shares of Evolutra Corporation.\n\n\nSection Rouge Media is an integrated entertainment company, which\nspecializes, in both publishing and electronic content production and\ndistribution. Its publications division publishes 30 titles regularly\n(magazines and games). Through its wholly owned subsidiary, Image In Media\nInc. ("Image In Media"), Section Rouge Media develops, finances, produces and\ndistributes cross-media products for the worldwide marketplace. Image In\nMedia's integrated approach combines services and expertise in production\nmanagement, marketing and distribution of products on all formats.\n\n\nThe proposed Acquisition is subject to customary conditions precedent\nincluding, without limitation, shareholder and regulatory approval, as well as\nspecific conditions precedent which are:\n\n\n(a) the completion by Section Rouge Media of a financing, either by way\n of a public offering or a brokered pr...