SAN CLEMENTE, CA–(Marketwired – Mar 15, 2016) – Image Technology Laboratories ( OTC PINK : IMTL ) is pleased to announce the completion and closing of the previously announced merger with Image Protect (www.imageprotect.com) a leading digital copyright enforcement management firm, with the help of financing from Blackbridge Capital. The combination of the established imaging and data organization platform of Image Technology Labs in conjunction with the rapidly expanding copyright enforcement business model of Image Protect leaves the new Company poised for dramatic new performance. Details of the transaction can be found on OTC markets, under a special filing the company did as “Supplemental Information” in-lieu of an 8k for shareholders.
Image Protect provides a revolutionary proprietary software focused on digital asset protection with a global team of copyright and licensing experts, to protect and preserve the value of its client’s digital assets. Online copyright infringement is a multi-billion dollar problem to holders of copyrighted property in a myriad of industries. Image Protect has a leading technology solution to provide monetization and remedies to the holders of violated copyrights.
As disclosed previously, Lawrence Adams has been appointed CEO of the new Image Technology Labs, while the former CEO, Valerie McDowell, will remain an active board member and corporate secretary to the company. In addition, Jonathan Thomas will remain as President of Image Protect as well as fill the position as Chief Operating Officer of the new entity. Mr. Thomas will concentrate 100% of his time ensuring the continued success of Image Protect.
Mr. Adams has been working rigorously to consummate this merger. “We can’t be more excited to have merged with Image Protect (www.imageprotect.com) the high growth potential of this company is tremendous,” Mr. Adams stated, “We anticipate Image Protect meeting all of its operational milestones with the funding invested by Blackbridge Capital.”
Blackbridge Capital has been an essential asset to the closing of this merger. “A merger is hard to pull off under any circumstances, but it’s been an impressive journey with the IMTL team thus far,” added Alexander Dillon, Managing Member of Blackbridge, “We have the utmost confidence in the success of the newly formed company and will continue to back their new direction into the content protection sector.”
Image Technology Labs’ merger was completed after receiving a financing commitment from New York based hedge fund, Blackbridge Capital, LLC. Blackbridge Capital is a leading alternative investment manager focused on investing in early-stage and middle-market companies. The financing from Blackbridge will be used to expand IMTL’s marketing, operations, and business model to accelerate growth. Blackbridge has also pledged to remain actively involved in the financial, managerial, and strategic needs of the new company.
Safe Harbor Provision
Cautionary statement for purposes of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review Image Technology Laboratories’ 10-K and 10-Q for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.