21 October 2010mConnect Share Sale & Purchase Agreement...

21 October 2010
mConnect Share Sale & Purchase Agreement Executed
The Board of Medic Vision Limited (gMVHh or the gCompanyh), is pleased to announce that
the Company has entered into a binding agreement for the acquisition of mConnect Group.
mConnect Group is an international mobile marketing and content distribution group of
companies with a range of technological solutions that will prove to be an invaluable
resource to businesses looking to target mobile users with their message or products.
mConnect Group provide a fully managed or self service mobile marketing platform
solutions, allowing easy set up and management of multiple mobile marketing campaigns
across different countries, mobile operating systems and carriers.
Mobile Marketing is a multi]billion dollar industry with an evolving competitor landscape of
few established global providers. The mConnect transaction positions Medic Vision as one
of the few end to end mobile marketing providers with the global reach to benefit from the
exponential growth in this exciting industry.
mConnect Group has a strong profit history, its EBITDA for the 2010 financial year was
approximately $1,800,000 and the forecasted EBITDA for the 2011 financial year is between
$2,000,000 and $3,000,000.
The acquisition will be satisfied by the payment of $3,000,000 in cash, the issue of
100,000,000 shares in the Company (Shares) at an issue price of $0.05 per Share and the
issue of 10,000,000 Options with exercise price of $0.20. The 100,000,000 Shares will be
held in voluntary escrow for a period of at least 1 year. Shareholder approval will be sought
for the issue of the 100,000,000 Shares and 10,000,000 Options at the soon to be convened
2010 Annual General Meeting.
Executive Chairman of the Company, Jitto Arulamapalam, said gI am extremely excited
about this acquisition, the mConnect Group is completely focused on global expansion in an
ever]growing Mobile Marketing medium. mConnectfs highly advanced technology offers
extreme competitive advantages. This important acquisition has put MVH in the heart of the
dynamic global mobile marketing space. Wefve found a perfect partnership and are very
much looking forward to working closely and growing with mConnectfs talented team.h
Rob Hoath and Ryan Bowman, of the mConnect Group stated gmConnect is delighted to
announce it has executed its purchase agreement with MVH. Pairing our expertise, global
footprint and proven business model with a public entity such as MVH, we intend to deliver
real value to our shareholders in the short, medium and long term.
We embrace this new structure and are very excited about the growth possibilities this
brings to our organization which will amplify our existing global sales and marketing efforts
and further capitalize on the next big thing, which is mobile advertising.
We look forward over the coming weeks to announcing further information on our
proprietary mobile advertising solutions, which are targeted at brands and media agencies
worldwide. We also look forward to updating the market on our acquisition of exclusive
mobile content rights, to be distributed via our growing network of over 100 international
Mobile Phone Carriers.h
For further information, please contact;
Mr. Jitto Arulampalam
Executive Chairman
0421 617 766