|Page (1) of 1 - 04/05/12||email article||print page|
Digital Shelf Space Signs Exclusive DVD Production and Global Distribution Agreement with the PGA Tour's "TOURAcademy(R)"Parent Company Golf Experiences, LLC Invests $250,000 in Purchase of DSS Equity at a Price of CDN $0.20 per Unit (April 05, 2012)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/05/12 -- Digital Shelf Space Corp. (TSX VENTURE:DSS)(OTCQX:DTSRF)(PINKSHEETS:DTSRF) (the "Company" or "DSS") announced the signing of an exclusive video production agreement with Golf Experiences, LLC ("Golf Experiences") operator of the PGA TOUR's TOURAcademy??. The agreement, which includes the production, marketing, and global distribution of a direct-to-home DVD golf instructional series, will be marketed under the TOURAcademy?? brand name. The product is slated for release early this summer.
"We had been seeking a vehicle whereby we could effectively translate our world-class golf instruction program and methodology into a format which could reach golf enthusiasts across the country and around the world. This new video series format will allow us to do just that," said John Fechter, President and Chief Experience Officer for Golf Experiences. "Additionally, in that upholding the quality and the integrity of the TOURAcademy?? brand is of paramount importance, we selected DSS to assist with this expansion opportunity. We are confident that this team is well-equipped to deliver a high-quality, high-appeal, DVD instructional product."
The agreement between DSS and Golf Experiences is exclusive in the golf instruction and fitness video category for a period of three years and includes an option to extend for one-year consecutive terms thereafter.
As part of the agreement with Golf Experiences, DSS also announced that the Company's Board of Directors approved the issuance to Golf Experiences (the "Offering") of 1,250,000 units at a price of Cdn$0.20 per unit, resulting in gross proceeds to the Company of Cdn$250,000 in a private placement transaction. Each unit consists of one common share and one half common share purchase warrant. Each whole purchase warrant will entitle Golf Experiences to purchase one common share of the Company at the price of Cdn$0.30 per common share on or before the date occurring 60 months following the closing of the Offering.
"We are pleased to be working with Golf Experiences and one of the top brands globally in all of professional sports," says Jeffrey Sharpe, CEO and President of DSS. "Golf Experiences has further demonstrated its confidence in our organization's ability to deliver long term value in exchange for the $250,000 investment in DSS. We are confident that together we will deliver a premium TOURAcademy?? experience program to golfers all around the world."
The Offering is subject to TSX Venture Exchange approval. Monies raised from the Offering will be used toward transaction and related expenses, marketing and advertising, working capital and general corporate purposes.
About Golf Experiences
Based in Ponte Vedra Beach, Florida, Golf Experiences has been operating golf academies on a nationwide basis since 1992, including the PGA TOUR's TOURAcademy?? at World Golf Village in St. Augustine, FL. With skill development programs specifically designed for golf enthusiasts of all ages and ability levels, the Academy has earned a favorable reputation for providing the highest-quality of golf instruction available. Instruction programs range from golf schools, private lessons, specialty clinics, junior programs and corporate events. TOUR Academies are located nationwide in many desirable golf destinations including Ponte Vedra Beach, FL; St. Augustine, FL; Scottsdale, AZ; and San Antonio, TX. The Golf Experiences team is managed by an impressive staff comprised of professionals with years of experience in the businesses of golf instruction, golf travel and corporate entertainment.
About Digital Shelf Space Corp.
Digital Shelf Space is an independent creator, producer and distributor of home entertainment content targeted at the fitness and sports instruction market. Digital Shelf Space's overall content partnership strategy is to align itself with world-class, global brand partners. For more information visit www.digitalshelfspace.com and to view our flagship project with Georges St-Pierre, visit www.gsprushfit.com.
ON BEHALF OF THE BOARD
Jeffrey Sharpe, President & CEO
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the production, marketing, distribution and timing of release of a direct-to-home DVD golf instructional series marketed under the TOURAcademy?? brand name; the scope of distribution of such DVD golf instructional series; statements about the intention to complete and the details concerning a private placement offering; Digital Shelf Space's home entertainment content and online delivery technology.
In connection with the forward-looking information contained in this news release, Digital Shelf Space has made numerous assumptions, regarding, among other things, our delivery platform and the use of celebrity fitness products. While Digital Shelf Space considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Digital Shelf Space's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: Digital Shelf Space may not produce a direct-to-home DVD golf instructional series in the time frame contemplated, or at all; a direct-to-home DVD gold instructional series may not generate anticipated revenue for Digital Shelf Space; the private placement offering may not close or close on the terms currently contemplated by Digital Shelf Space, or at all; reliance on the health and marketability of celebrity fitness talent in productions owned by Digital Shelf Space; the creation and sale of new products and services under the RUSHFIT brand may or may not come to fruition, actual results from the use of celebrity fitness products may differ substantially from anticipated results; the substantial investment of capital required to produce and market video and entertainment productions, limitations imposed by our financing abilities, unpredictability of the commercial success of our programming, difficulties in integrating technological changes and other trends affecting the entertainment industry.
A more complete discussion of the risks and uncertainties facing Digital Shelf Space is disclosed in Digital Shelf Space's Filing Statement dated November 16, 2010 and continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Digital Shelf Space disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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 the release.
Digital Shelf Space Corp.
VP Business Development
Copyright @ Marketwire
Related Keywords: Digital Shelf Space Corp. , Home, Parents, Marketwire, , Sports, Gold, Business, Entertainment, Sports, Golf, Other,