SilverBirch to complete Lighthouse acquisition

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[{"type":"text","content":"\n\n\n\nTORONTO, July 9 /CNW/ - SilverBirch Inc. (SVB: TSXV) announced today that\nit has settled definitive terms for the purchase of 100% of the issued and\noutstanding shares of Lighthouse Interactive Game Publishing B.V., a\ncorporation incorporated under the laws of the Netherlands, a transaction\noriginally announced on April 29, 2008. The final closing is anticipated to\ntake place shortly following approval by the Toronto Stock Exchange Venture\nExchange.\n\n\nCFO, Paul Haber said, "This acquisition brings us up market into a higher\nmargin, lower risk business that complements our current core development\nskill. Lighthouse will provide the experience and expertise to leverage our\nexisting Intellectual Properties and build additional IP that will build\ngreater value for shareholders."\n\n\nThe agreed purchase price will be $3,000,000, with up to a further\n$1,250,000 to be paid contingent upon agreed performance targets. The price\ncomprises cash of $650,000 and 3,850,000 common shares, valued at $1,350,000,\npayable on closing. $400,000 will be paid in an unsecured note, payable over a\nthree year term bearing interest at 10%. The $600,000 remaining portion of the\npurchase price is to be paid on or before November 30, 2008.\n\n\nAbout Lighthouse Interactive\n\n\nLighthouse Interactive Game Publishing B.V. is a fast growing publisher\nof interactive entertainment with offices established in Toronto and Montreal,\nCanada, Haarlem, The Netherlands and London, England. The company is focused\non bringing strong titles to the worldwide market in a wide array of genres\nincluding: RPG, Simulation, Adventure, Action and Strategy. Staffed with\nindustry veterans, Lighthouse is the right choice for developers looking to\nbring their products to a worldwide audience. For more information visit:\nwww.lighthouse-interactive.com\n\n\nAbout SilverBirch Inc.\n\n\nToronto-based SilverBirch Inc. is a fully integrated developer, publisher\nand distributor of high quality interactive media content and, through its\nJambo Mobile division, provides mobile marketing and direct-to-consumer mobile\ncontent. In addition, the company is a multi-platform video game developer and\noperates an MMORPG (massive multiplayer online role-playing game) game called\nMetin 2 (see www.metin2.us). For more information, please visit\nwww.silverb...

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