Corporate Update - Synchronica acquires remaining interest in iseemedia through an amalgamation

TORONTO, Jan. 7 /CNW/ -- 
TORONTO, Jan. 7 /CNW/ - iseemedia Inc. ("iseemedia" or the "Company" - TSX-V: IEE) announced today that further to its announcement of( )December 30, 2010  and following approval by the TSX Venture Exchange on
 January 5, 2011, Synchronica plc ("Synchronica") (AIM:SYNC; TSX
 VENTURE:SYN) the international provider of push email, instant
 messaging and social networking services, has acquired the remaining
 interest in iseemedia by way of an amalgamation (the "Amalgamation"),
 such that iseemedia is now a wholly-owned subsidiary of the Company.


The Amalgamation of iseemedia with Synchronica Canada Inc. (a wholly
 owned subsidiary of the Synchronica) is effective under the Canada Business Corporations Act on January 6, 2011.


As none of the shareholders of iseemedia has exercised dissent rights
 with respect to the Amalgamation, on the effective date of the
 Amalgamation each issued and outstanding iseemedia share (other than
 those held by dissenting shareholders of iseemedia or Synchronica
 Canada Inc.) was converted into 0.2687 of a share of the Company.


iseemedia shareholders are requested to return their iseemedia common
 share certificates to Computershare Investor Services Inc., together
 with the Letter of Transmittal enclosed with the management proxy
 circular of iseemedia dated November 25, 2010, or contact their broker
 directly, to receive their new share certificates of Synchronica. The
 detailed instructions for the surrender of share certificates and the
 address of Computershare Investor Services Inc. are set out in the
 Letter of Transmittal.  iseemedia shareholders are also advised that no
 fractional shares of Synchronica will be issued in connection with the
 Amalgamation.


About iseemedia Inc
iseemedia Inc. is a mobile software company focused on the
 commercialization of a Service Delivery Platform (iseemail ™) for
 delivering push Email services to the mass market and an advanced
 Content Delivery Platform (iseedocs ™) for rich media adaptation and
 extremely cost-efficient network delivery to mobile devices.


The Company maintains a broad portfolio of issued and pending patents
 that cover content authoring, streaming and interactive viewing on
 mobile devices. iseemedia was founded in March 2002 and has been traded
 on the TSXV in Toronto since June 2005.


For more information, please visit: www.iseemedia.com.


Forward-Looking Statements: This news release includes certain forward-looking statements that are
 based upon current expectations, which involve risks and uncertainties
 associated with Synchronica's business and the environment in which
 those businesses operate. Any statements contained herein that are not
 statements of historical facts may be deemed to be forward-looking,
 including those identified by the expressions "anticipate", "believe",
 "plan", "estimate", "expect", "intend", and similar expressions to the
 extent they relate to either Synchronica or its management. The
 forward-looking statements are not historical facts, but reflect
 Synchronica's current expectations regarding future results or events.
 These forward-looking statements are subject to a number of risks and
 uncertainties that could cause actual results or events to differ
 materially from current expectations, including the matters discussed
 in Section 8 (under the heading "Risk Factors Related to the Offer") of
 the Circular contained in the take-over bid circular dated July 22,
 2010 filed with respect to the Bid at www.sedar.com, as amended pursuant to related notices filed at www.sedar.com. 
 Synchronica assumes no obligation to update the forward-looking
 statements, or to update the reasons why actual results could differ
 from those reflected in the forward-looking statements.


Neither TSX Venture Exchange nor its Regulation Services Provider (as
 that term is defined in the policies of the TSX Venture Exchange)
 accepts responsibility for the adequacy or accuracy of this release.   No stock exchange, securities commission or other regulatory authority
 has approved or disapproved the information contained herein.


To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2011/07/c9117.html



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