Brisio Innovations (BZI-CSE) Oct 10, '14 has entered into a non-binding letter of intent to acquire certain assets owned by Austin Legate Church, doing business as Bright Newt.
Over the past three years Bright Newt has built a portfolio of mobile apps and other app-related products. Bright Newt's portfolio features various iOS and Android apps, including Viva Match Battle, published in mid-June 2014, as well as an iOS app marketing guide, app development tutorials, a source code marketplace, and a range of development tools. Under the terms of the Letter of Intent, Brisio will issue to Mr. Church 500,000 shares of the company at the closing of a Definitive Agreement,
The Company will also be entering into an employment agreement with Mr. Church and will, subject to regulatory approval, issue 200,000 options at $0.20.
Paul Andreola, President and CEO, states, "This Letter of Intent represents another significant step for Brisio as we continue to build out our portfolio of assets, and more importantly, as we reach towards our goal of building a strong, supportive community of independent app developers. I am also very pleased to welcome Austin to our team. Austin has considerable experience as a developer and expertise in app marketing. The various apps and products that he has created will greatly extend the range of tools and services that we can offer app developers."
"I'm excited to join forces with the Brisio team," said Austin Church. "I think we'll be able to do some significant things together. I love their vision for creating a bigger middle-class of indie developers, and it's nice to know that the apps I've worked so hard on will be in good hands." |
