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To: Goose94 who wrote (3441)	11/29/2013 7:59:55 AM
From: Goose94	Respond to of 202736

LX Ventures (LXV-V) to acquire cloud application company Nov 28, 2013 - News Release LX Ventures Inc. has signed a letter of intent to acquire Copper.io Inc., a Nevada corporation, which is in the business of acquiring, developing and marketing cloud-based hosting, monitoring and management solutions for today's state-of-the-art cloud-deployed applications. Since commencing operations, Copper has established a suite of product assets in the cloud-based application management market segment, including PointDNS, Stackful, Stackdoc, StatsMix, StillAlive, StatusHub, Twist, CloudVertical and PandaStream. Under the terms of the letter of intent, on closing, LXV will issue 2,083,333 common shares and pay $500,000 cash in order to complete the acquisition. Up to an additional 3,472,222 common shares and $1.5-million in cash will be payable by LXV as certain milestones are met in terms of the achievement of agreed monthly recurring revenue targets. At Copper's option, it may elect to receive $500,000 in cash rather than the final share instalment. The securities will be subject to a four-month hold period once issued. The transaction remains subject to completion of final documentation, regulatory approval and final due diligence. LXV chief executive officer Mike Edwards stated: "We are pleased to announce this relationship with the top-notch team at Copper.io. Copper has been experiencing tremendous revenue growth month over month and we are confident that this growth will only accelerate with the involvement of our LXV team. We are clearly and rapidly executing on LXV's core strategy of identifying, acquiring and accelerating foundational companies in key technology spaces where we see high potential. We look forward to working with Copper.io as we rapidly grow the business." The transaction remains subject to the approval of the TSX Venture Exchange.