Silverbirch To Buy Majority Stake In Crossroad Mobile

Toronto-based developer Silverbirch has signed a letter of intent to acquire 60 percent of the shares of Dallas-based Crossroads Mobile, a mobile content, auction and mobile and landline billing company whose customers include Aetna, Amazon.com, AT&T Wireless, IDT, Microsoft (Tell-Me Networks), Verisign and the Canadian Yellow Pages. The purchase price consists of $200,000 cash on closing, 2 million SilverBirch common shares and $180,000 VTB secured against Crossroad assets. SilverBirch will also assume CrossRoad’s term debt in the amount of $175,000. (release)

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