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Sceptre Ventures Inc. Proceeding With Qualifying Transaction(February 14, 2012)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/14/12 -- Sceptre Ventures Inc. (TSX VENTURE:SVP.P) (the "Company") is pleased to announce that it is proceeding with AdFlexer Innovations Inc. with respect to its Qualifying Transaction ('QT') in furtherance of the Letter of Intent ("LOI") news release dated October 20th, 2011.
The Company announces that it will not be proceeding with the previous "LOI" with DingaLing Communications Inc. at this time and thus it will not form part of the Qualifying Transaction.
The Company would also like to announce the appointment of Oleg Scherbina as Chief Financial Officer ("CFO") pending TSX Venture Exchange approval. Mr. Scherbina has over 15 years of financial management experience and is currently Comptroller for Puget Ventures Inc. He holds a Masters in Accounting and Audit from Odessa Economic University and a Bachelor of Law degree from Odessa State University.
The Company would like to thank the outgoing CFO, Mr. Trent Fedak for his services. Mr. Fedak currently serves as a Director and Corporate Secretary for the Company. In addition the Company also announces the resignation of Mr. Raymond Castelli as a Director and would like to thank Mr. Castelli for his time and effort.
About AdFlexer Innovations Inc.
AdFlexer is a private company incorporated in 2011 and based in Saskatoon, Saskatchewan. The company has developed technology that allows mobile Smartphone (inclusive of Android, Blackberry and iPhone) and Tablet users with the AdFlexer technology application installed to take a photo of a static printed image and translate the static advertisement into dynamic content. AdFlexer can present video and audio commercials, time sensitive events or sales, end user specific messaging, directions and navigation information or current or promotional discount offerings; all through the mobile device. AdFlexer enabled advertisements also provide metrics around usage and can provide insight into the reach and frequency of views of particular material and subsequent activity, like taking advantage of a given promotional offering or seeking directions to a specific location.
Additional information regarding AdFlexer, including applicable financial information, will be made available at a later date in the management information circular or filing statement to be prepared in connection with the Acquisition.
About Sceptre Ventures Inc.
The Company is a Capital Pool Company (CPC) within the meaning of the policies of the TSX Venture Exchange. Sceptre Ventures Inc. has not commenced commercial operations and has no assets other than cash. Sceptre Ventures Inc. proposes to identify and evaluate business and assets with a view to completing a "Qualifying Transaction" under the TSX Venture Exchange CPC policies.
We seek safe harbor.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this press release. 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.
Sceptre Ventures Inc.
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