HDIMAX, Inc. agreed to acquire Indigo-Energy, Inc. from CarrMiller Corporation, New Hope Partners LLC and others in a reverse merger transaction.
September 04, 2014 at 12:00 am EDT
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HDIMAX, Inc. agreed to acquire Indigo-Energy, Inc. (OTCPK:IDGG) from CarrMiller Corporation, New Hope Partners LLC and others in a reverse merger transaction on September 2, 2014. Indigo-Energy will acquire HDIMAX in consideration for 94% of the outstanding stock of Indigo.
Pursuant to the agreement, Indigo has agreed to effect a reverse stock split prior to the closing of the merger, such that the merger consideration issued to the holders of HDIMAX common shares will be approximately 705 million shares of their common stock, and their total shares of common stock outstanding after completion of the merger will be approximately 750 million in each case on a post-reverse split basis. Raaj Kapur Brar will be the Chief Executive Officer and President of HDIMAX. The transaction is subject to regulatory approval, due diligence and approval of shareholders of HDIMAX. It will be terminated if the closing does not occur before March 1, 2015. The transaction has been approved by the Board of Directors of Indigo. The transaction is expected to close no later than December 31, 2014. Lance A. McKinlay of Wilson & Oskam, LLP acted as legal advisor to Indigo-Energy.
Zonzia Media, Inc., formerly Indigo-Energy, Inc. and HDIMAX Media, Inc., is a multi-platform entertainment distribution company. The Company is focused on distributing content through three platforms, including Cable television, Hotel in-room channel and its Website www.Zonzia.com. Through an Over-The-Top (OTT) software technology it allows access to its available content from Internet connected devices, including home computers, tablets, smart phones and other mobile devices. The Company intends to deliver a range of content, including Original Programming, which features television (TV) series, mini-series and documentaries; Feature Films, which include full-length feature films from Hollywood studios and independent production companies; Television Shows, which include TV series from networks and independent production companies, and Concerts, Sports and Live Events, which streams live music concerts, live sports events and other live events.