Red Mile Entertainment to Merge With SilverBirch
15 October 2008 - 12:00AM
Marketwired
Red Mile Entertainment, Inc. (OTCBB: RDML), a worldwide developer
and publisher of interactive entertainment software, today
announced it has signed a merger agreement with SilverBirch Inc.
(TSX-V: SVB), a Toronto-based game software developer and
publisher, pursuant to which SilverBirch will acquire 100% of the
stock of Red Mile.
The merger is expected to provide a number of immediate benefits
to the combined companies as they continue to grow their respective
publishing businesses. SilverBirch, with offices in Toronto, Dallas
and the Netherlands, is a fast-growing publisher of handheld,
mobile and massively multiplayer online games ("MMOG"). Red Mile is
a California-based video game publisher with worldwide rights to
established brands including the "Heroes" flight combat franchise.
"Heroes of the Pacific" sold over 600,000 units and the sequel,
"Heroes Over Europe," is expected to ship in March 2009.
SilverBirch's financial and operational elements complement Red
Mile's expertise as a licensor, developer and publisher of PC and
console games.
The transaction is subject to a number of conditions, including
U.S. regulatory, shareholder and Toronto Venture Stock Exchange
approvals.
"SilverBirch's strategy to grow through strategic acquisitions
is a vision that Red Mile shares and one that we can contribute to
in a meaningful way to position the combined entity as a leading
integrated video game publisher," said Chester Aldridge, CEO of Red
Mile. "By combining Red Mile's development, publishing and
licensing strengths with SilverBirch's proven ability to operate
and grow its business, we expect to deliver strong growth for the
company in the years ahead."
"Red Mile's position as a strong console publisher of both
original and licensed intellectual property complements our core
focus in the video game industry," commented Derek van der Plaat,
CEO of SilverBirch. "With our publishing strengths in Massively
Multiplayer Online Games, PC and handheld games, the merger with
Red Mile further rounds out SilverBirch's capability as a
comprehensive publisher."
About Red Mile Entertainment, Inc.
Red Mile Entertainment, Inc. is a worldwide developer and
publisher of interactive entertainment software. Headquartered in
San Anselmo, California, the company creates, incubates and
licenses premier intellectual properties and develops products for
console video game systems, personal computers and other
interactive entertainment platforms. For more information, visit
www.redmileentertainment.com.
About SilverBirch Inc.
Toronto-based SilverBirch Inc. is a leading digital media
company focused on the fastest-growing sectors of the video game
and mobile markets. Operating companies include Jambo Mobile
Solutions, a fully integrated mobile media company with
capabilities in mobile messaging and mobile content delivery, and
SilverBirch Studios, a multi-platform video game developer and
operator of an MMORPG (massive multiplayer online role-playing
game) called Metin2 (see www.metin2.us). For more information,
please visit www.silverbirchstudios.com and
www.jambomobile.com.
For further information, please contact: Derek van der Plaat
Chief Executive Officer SilverBirch Inc. Tel: 416 621 6711 Ext 34
Email: Email Contact Chester Aldridge CEO and Chairman Red Mile
Entertainment, Inc. Tel: 415 339 4240 Email: Email Contact
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