SHANGHAI, China, January 30 /PRNewswire/ --
MMA Media Inc. (OTC Bulletin Board: MMAI) (the "Company") is pleased to announce that it has entered into a share exchange agreement with Poise Profit International, Ltd. ("Poise Profit"). Pursuant to the terms of the share exchange agreement, the Company has acquired all of the issued and outstanding shares of Poise Profit's common stock in exchange for the issuance of up to 70% of the outstanding shares of our common stock following the transaction. As a result of the share exchange, Poise Profit will become a wholly-owned subsidiary of the Company, a majority of our board of directors will be elected by Poise Profit's shareholders and our executive officers will be appointed by its shareholders. The closing of the transaction is subject to certain closing conditions, including the Company closing a financing for at least US$8.5 million. The share exchange is expected to close before the end of the first quarter 2008.
Poise Profit's China subsidiary is an international leader in designing, fabricating, implementing and servicing energy recovery systems. Poise Profit's technology captures industrial waste energy to produce low cost electrical power, enabling industrial manufacturers to reduce their energy costs, shrink their emissions footprint, and generate sellable emissions credits.
This transaction takes place during an expansive phase for Poise Profit as it is preparing to expand its capacity to support the heavily increasing demand for its products and services.
About Poise Profit International, Ltd.
Poise Profit International, Ltd. ("Poise Profit") is principally engaged in designing, marketing, licensing, fabricating, implementing and servicing energy recovery systems. Its technology captures industrial waste energy to produce low cost electrical power, enabling industrial facilities to dramatically reduce their energy costs and shrink their emissions footprint. Poise Profit has successfully installed over one hundred energy recovery systems and has deployed its systems throughout China and in a variety of international markets including Egypt, Turkey, Korea, Vietnam and Malaysia. Poise Profit also intends to expand its marketing campaign to customers in North America and Europe. It employs 300 people, and over half are accredited engineers.
Notice Regarding Forward-Looking Statements
This release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which aren't purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Since the forward-looking statements relate to future developments, results or events, these statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You shouldn't construe any of these statements as a definitive or invariable expression of what will actually occur or result. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and the Company and Poise Profit assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time to time with the Securities and Exchange Commission and available at http://www.sec.gov.
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