Mobile Lads Purchases Majority of North American Shopping Network From Domark International
SOURCE: Mobile Lads Corp.
TORONTO, ON–(Marketwired – Jan 15, 2015) – Mobile Lads Corp. (OTCQB: MOBO) is pleased to announce that it has entered into a joint venture with Domark International, Inc. (OTC: DOMK) to purchase and take operational control of Domark’s North American rights to its online shopping solution, including SimbaDeals.com.
Domark has spent the last year building this unique shopping solution where it has four hundred blue chip retailers on the United States site, with over thirty million products available every day.
The site also has media partnerships with the Globe & Mail, Metro Newspapers Canada, Now Magazine, MTS Allstream, and many other media partners.
How SimbaDeals.com Works
Domark has the exclusive North American rights to Monetizer101, which has been successfully operating in Europe and recently entered North America. This is a unique technology that collaborates media owners, retailers, and consumers into an online discount shopping solution. Unlike other online shopping platforms currently available, media owners will be paid for driving traffic to the retailers, retailers receive new revenue streams and increased page reviews on their websites, and consumers receive a wide variety of brand name products at heavily discounted prices. It is a tremendous opportunity to significantly enhance the user’s online retail experience while being highly scalable all on one site.
The business model has been improved for the North American market to incorporate a fully win/win structure where retailers sign up for no cost and only pay for commissions paid on sales generated by customer traffic. Retailers are responsible for all payments, shipping, returns and fulfillment. Retailers can promote all of their online products as well as discounted inventory that they have been unable to sell via their normal channels. Domark has partnered with some of the country’s largest media owners where they host and promote on their own websites using technology to generate a new revenue stream channel via their substantial client base.
The New Joint Venture
In exchange for a cash and share transaction to be paid to Domark, Mobile Lads will acquire and take full operational control and funding of the online shopping solution. Domark will retain a 25% ownership. This is a great win/win solution for both companies, as Mobile Lads already has a strong presence and a world-class team in the Internet arena. Mobile Lads not only has the experience, but a portfolio of Internet products which together complement both companies.
Mobile Lads CEO Michael Paul commented, “This is an exciting joint venture where we will be able to take existing websites to the next level, leveraging all the great work that has been established by Domark. We now have the financial requirements and technical expertise to maximize this asset. The technology also fits very well with our Coubox platform.”
Domark CEO Andrew Ritchie added, “We are delighted to find such an ideal partner. Management feels this deal will benefit shareholders of both companies.”
About Mobile Lads
Mobile Lads Corp. designs and delivers secure, wide-area wireless transaction software solutions for the consumer finance, web and health payment processing sectors. The company’s solutions provide streamlined, continuous access to time-sensitive information and data on multiple network standards. Mobile Lads’ products and services center on core technologies that simplify and secure online two-way transactions and wireless communications.
For more information, visit www.mobilelads.com.
About Domark International
Domark International Inc. is a fully compliant SEC reporting publicly traded consumer electronics and e-commerce company listed in the regulated US OTC PINK Bulletin Board under the symbol DOMK. The Company works with investors, manufacturers, distributors and retailers to bring to market globally new smartphone and tablet accessories as well as online services that can significantly enhance the usage or user experience of a device or medium. Technology development companies in which Domark has partnered include Solawerks, Inc., Imagic LTD, Xaltek Ltd, and Barefoot Science.
For more information, visit www.domarkintl.com.