CALGARY, ALBERTA -- (Sept. 5, 2008) - RepeatSeat Ltd. (TSX VENTURE: RPS.V) is pleased to announce the closing of the acquisition of certain assets of 7011555 CANADA LIMITED including their industry leading websites: SocialInsider.ca, socialinsideramerica.com, socialshop.ca, socialinsidereurope.com, culinarytickets.com and speakertickets.com. Social Insider assets currently have ticket listings for over 1000 entertainment options and access to thousands of global events and unique entertainment experiences. It is a leading website for the sale of experiences such as "A Day with Beckham, Movie Premier and Award Show experiences such as the American Country Music Awards, The ESPY Awards, The Grammy's and celebrity based experiences such as the Elton John Oscar after party. The creator of these web properties, Mr. Grant Doyle will join RepeatSeat as Director Global Business Strategies and is charged with building the secondary business and experience arm of the RepeatSeat business.
RepeatSeat President and COO Bob Christianson stated, "The acquisition of these web assets, the premium inventory and the knowledge and business connections associated with premium ticket sources will enable RepeatSeat to provide a more complete ticket management and resale solution throughout North America. RepeatSeat plans to completely integrate the Social Insider websites to optimize resale and experience revenue as the NHL season begins and major concerts are touring North America. The RepeatSeat FirsTicket resale technology profile will be used to expedite this process.
Mr. Christianson noted, "RepeatSeat recognizes that the fastest growing and most profitable area of live event ticketing involves the resale of tickets to major concerts, Broadway shows and sporting events. The key to our growth is tied to relationships as well as technology and through this acquisition we have improved our ability to access and sell great tickets for events throughout Canada, the United States and Europe".
The acquisition price, which will be paid through the issuance of 3,000,000 RPS common shares at a deemed price of $0.12 per share, is $360,000.00 and is subject to TSX-V approval. The common shares issued with respect to this acquisition are subject to a four month regulatory hold period.
About RepeatSeat:
RepeatSeat is a leading interactive entertainment services company, offering private label ticketing throughout North America. RepeatSeat's innovative Ticket Relationship Management (TRM(TM)) solutions provide a proprietary portfolio of products to sporting and live event venues, tour and excursion companies, ski hills and movie theatres. All point of sale, Internet and mobile solutions feature full end-user data capture and management. For more information on RepeatSeat, visit www.repeatseat.com.
For RepeatSeat investor relations needs, investors are asked to visit the RepeatSeat Investor Relations website at http://www.agoracom.com/ir/repeatseat where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to rps@agoracom.com where they can also request their addition to the investor e-mail list to receive all future press releases and updates in real time.
Advisory Regarding Forward-Looking Statements:
Certain information with respect to the Company contained herein contains forward-looking statements. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, the impact of general economic conditions, industry conditions, stock market volatility and ability to access sufficient financing. As a result, the Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur. In addition, the reader is cautioned that historical results are not necessarily indicative of future performance.
The TSX Venture Exchange does not accept responsibility for the adequacy and accuracy of this release.
Contacts
Bob Christianson
RepeatSeat Ltd.
President & COO
(403) 716-2276
Email: bchristianson@repeatseat.com
Website: www.repeatseat.com
Email: RPS@Agoracom.com
AGORACOM Investor Relations
Website: www.agoracom.com/IR/RepeatSeat
