Actiga Corporation Completes Merger with Qmotions.- Actiga Common Stock to Begin Trading on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. Under Ticker Symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "AGAC AGAC Attorney General's Advisory Committee of United States Attorneys AGAC American Guild of Actors and Composers " - RIVERSIDE, Calif. -- Actiga Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AGAC) (the "Company") announced today the completion of its merger with Qmotions, Inc., a global developer and marketer of PC/Console-based and online active game technologies that deliver "full-motion" participation in video games See video game console. . The Company's common stock is currently quoted for trading on the Over the Counter Bulletin Board (OTCBB) under the symbol AGAC.OB. As part of the transaction, Actiga acquired all of the issued and outstanding common shares of Qmotions in exchange for 25,230,000 shares of Actiga common stock. The Company also issued 3,770,000 common share purchase options to certain common share purchase option holders of Qmotions. Under the terms of the agreement, Amro Albanna, Qmotions founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , also will be appointed as Chairman, Chief Executive Officer, and Treasurer of Actiga, with Dale Hutchins, President of Qmotions, also assuming the position of President and Corporate Secretary of the Company. Steve Bajic resigned as President, Secretary, and Treasurer of Actiga, but remains as a director of the Company. "We are extremely excited about the completion of the merger and we look forward to operating and growing Actiga as a publicly-traded company," said Amro Albanna, chairman and CEO of Actiga. "This is a milestone event for Qmotions as it provides us with increased financial flexibility to aggressively participate in the explosive growth of the Console/PC and online active gaming market, and we believe delivers the greatest opportunities to our shareholders." Concurrent with the closing, Actiga completed a private placement of 2,000,000 units at a purchase price per unit of $1.25 for proceeds of $2.5 million. Each unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant has an exercise price of $1.50 per share and is exercisable for a period of two years. Subsequent to completing the merger, Actiga had 46,230,000 shares of common stock issued and outstanding, with the former shareholders of Qmotions holding 25,230,000 common shares, or approximately 54.6% of Actiga's issued and outstanding shares. About Actiga Corporation Actiga Corporation seeks to become the premier supplier of innovative active game technology products. The company's mission is to empower users to enjoy real-life, natural motion game play controllers that provide access to revolutionary downloadable 3D games and Console/PC-based video sports games. The company is committed to bringing to market a portfolio of online and console/PC gaming products and services through its family of companies. About Qmotions, Inc. Headquartered in Riverside, California Riverside is the county seat of Riverside County, California, United States and is also a focus city of the Greater Los Angeles Area. The city is named for the nearby Santa Ana River. As of 2006, Riverside had an estimated population of 293,741. , Qmotions, a subsidiary of Actiga Corporation, is a global developer of active game controllers for the PC, Microsoft Xbox[R] and Sony PlayStation Sony Playstation - Playstation [R] consoles, and online active game technologies that deliver "full-motion" participation in video games. Qmotions' popular product line offers an arcade-like experience to video gamers, affordable indoor simulation capabilities to sports enthusiasts and incorporates entertainment into working-out for fitness fans. For more information about Qmotions visit www.qmotions.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, about Actiga Corporation. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statement. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statement: failure of the merger; general economic conditions; geopolitical ge·o·pol·i·tics n. (used with a sing. verb) 1. The study of the relationship among politics and geography, demography, and economics, especially with respect to the foreign policy of a nation. 2. a. events and regulatory changes; requirements or changes adversely affecting the businesses in which Actiga is engaged; demand for the products and services that Actiga provides. Actiga assumes no obligation to update the information in this press release. |
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