Interline Resources Corp. to Acquire QUICKflickUSA, Inc.
May 27 2014 - 1:00PM
Business Wire
Acquisition positions IRCE to accelerate
QUICKflick’s growth in automated retail
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.
Lagano & Associates, Inc.Pam Lagano,
727-480-3082plagano@laganoassociates.com