Announcement release after hours.
DATAMOTION SIGNS ACQUISITION TERM SHEET AND UNDERWRITING FOR A PLACEMENT OF
SHARES
DataMotion Asia Pacific Limited (ASX: DMN), is pleased to announce that it has signed:
? a binding term sheet to acquire an option over 100% of the issued capital of MaxxZone Pty Ltd
(Australia) (Maxx); and
? an Underwriting Agreement with Cunningham Peterson Sharbanee Securities Pty Ltd (CPS) for
a strategic share placement to raise $221,400.
Term Sheet
Maxx is the owner and developer of a new internet based networking and sales site called MaxxZone.
The transaction is subject to satisfactory completion of due diligence and signing of a formal option
agreement.
Michael Robson, Chairman of DataMotion said, "We have been actively pursuing acquisition
opportunities that will grow the Company and improve our financial performance. MaxxZone is an
exciting opportunity and we believe DataMotion shareholders will benefit from the value of their unique
internet based product offering and ongoing commitment to innovation.”
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