WINNIPEG, Jan. 4 /CNW/ - MPVC Inc. (the "Corporation") (TSX-V: MPI) announced today that its wholly-owned subsidiary, OneContact, Inc. ("OCI"), has entered into an asset purchase agreement (the "agreement") with The Marketing Leaders Inc. ("TML"). TML specializes in outbound telemarketing and customer acquisition programs across many markets. Pursuant to the agreement OCI agreed to acquire all of the customers and related delivery infrastructure of TML for a purchase price of $130,000 CDN. The closing of the proposed transaction is expected to occur on or before January 05, 2007.
The addition of TML to the OCI Toronto Facility, offers the ability to execute programs with a high degree of redundancy between Toronto and the existing OCI Texas facility. It also enables Canadian customers to leverage our multi-lingual skills for outbound telemarketing drawing on more depth for diverse languages.
The proposed transaction is subject to conditions precedent, including: the completion of any required review and subsequent approval by regulatory bodies; the approval of the final terms and conditions of the proposed transaction by the board of directors of each of TML and OCI and the entering into a definitive form of agreement; consent of the shareholders of TML; and confirmation of support from customers of TML representing 90% of the revenue expected to be realized from TML Inc.'s customers; and the receipt of employment agreements from key personnel at TML. Evergreen Marketing, the largest TML customer has provided evidence of support by way of an LOI to continue the services.
During negotiations Evergreen was consulted on the basis of OCI being able to provide more scalability to TML. A large outbound operation out of Florida, Evergreen has a desire to provide additional business on the basis of OCI's ability to scale their programs in both Toronto and Texas in a fashion better than TML would have been able to, on their own.
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The Corporation is subject to significant risks and uncertainties which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Such risk factors include, but are not limited to, risks associated with public markets, competition, lack of available acquisition opportunities, market price of the Corporation's shares, failure to obtain additional financing, dilution, customer credit risk, reliance on key personnel, changes in legislation, environmental matters, potential conflicts of interest and risk of loss of key contracts. The Corporation cannot assure investors that actual results will be consistent with any forward-looking statement and the Corporation assumes no obligation to update or revise such forward-looking statements to reflect actual events or new circumstances.