Business
ZIM Corporation Announces the Sale of Its Canadian SMS Gateway
ZIM Corporation Announces the Sale of Its Canadian SMS Gateway.
About this update from Silver Bull Resources, Inc.
[{"type":"text","content":"\n\n\n\nOTTAWA, July 16 /CNW Telbec/ - ZIM Corporation (OTCBB: ZIMCF), has signed\nan agreement to sell certain mobile messaging assets to SilverBirch Inc.\n(TSX.V: SVB). The assets include ZIM's Canadian mobile gateway technology,\ncustomer contracts and proprietary web to text applications. The mobile\ngateway customers include the Ontario Lottery and Gaming Corporation, Pitney\nBowes and Rogers Wireless.\n\n\n"We are very pleased with this transaction as it is consistent with our\nbusiness strategy of focusing on our current Mobile Content, Internet TV and\ndatabase applications. Silverbirch is the ideal purchaser for these assets as\nit will ensure the continuity and quality of our Canadian gateway services to\nour customers and partners going forward" said ZIM CEO, Michael Cowpland.\n\n\nAs consideration for the acquisition, Silverbirch will pay $75,000 in\ncash on closing, additional $100,000 cash (all figures in Canadian Funds) and\n500,000 common shares of SilverBirch after certain conditions of purchase are\ncompleted. The transaction is subject to regulatory approvals and is expected\nto complete within the next 30 days.\n\n\n"This acquisition will significantly strengthen our Canadian market\nposition both in terms of customers and capabilities," said SilverBirch CEO\nDerek van der Plaat.\n\n\nAbout ZIM\n\n\nZIM is a provider of internet TV programming and services (also referred\nto as IPTV) and a mobile content and service provider. For more information on\nZIM and its customers, partners and products, visit: www.zim.biz and\nwww.zimdatabase.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\nSilverBirch Mobile division, provides mobile marketing and direct-to-consumer\nmobile content to its media partners. In addition the company is a\nmulti-platform video game developer and plans to launch an English-language\nMMORPG game (massive multiplayer online role-playing game) called Metin 2 (see\nwww.metin2.us) this summer. For more information, please visit\nwww.silverbirchstudios.com and www.silverbirchmobile.com.\n\n\nThis news release contains forward-looking statements within the meaning\nof Section 27A of the Securities Act of 1933 and Section 21E of the Securit...