PHOENIX, June 13, 2005 (PRIMEZONE) -- SunnComm International (Pink Sheets:SCMI), creator of MediaMax(tm), America's most accepted and best selling enhancement and content protection technology for CDs and MediaMax Technology Corporation (OTCBB:MMXT), are pleased to announce that they have signed a definitive merger agreement.
SunnComm's Board of Directors has approved the specific terms of the agreement and plan for the proposed merger to take place as soon as possible. The definitive merger agreement was signed this past weekend. The definitive merger agreement will be available for review by shareholders and other interested parties in the MediaMax Technology Corp. Form 8-K filing related to this material event within the next few days.
As required, a consolidated financial statement of SunnComm International, Inc. and MediaMax Technology Corp. will be audited for the filing of an S-4 registration statement with the SEC. Both companies anticipate an exchange ratio of one share of MediaMax Technology common stock for each share of SunnComm common stock outstanding, subject to an independent expert's fairness opinion. The combined organization will be named MediaMax Technology Corporation with the stock symbol (OTCBB:MMXT).
Peter H. Jacobs, SunnComm's president states, "SunnComm shareholders have been waiting a long time for their company to elevate itself to fully reporting status. Our move to the OTC Bulletin Board (and subsequently to a major exchange) comes at a time when MediaMax enjoys marketplace acceptance and accelerating revenues. It is my opinion that our timing couldn't be better. Everyone at SunnComm looks forward to integrating all aspects contributing to the success of MediaMax."
MediaMax Technology Corp. currently has an exclusive marketing agreement with SunnComm International, Inc. to sell MediaMax--America's best selling audio CD copy management and enhancement technology. Both companies earn royalties every time a CD is manufactured containing the proprietary copy management and enhancement software.
About SunnComm
In just five years, SunnComm International Inc. (Pink Sheets:SCMI) has become the leader in digital content enhancement and security technology for audio compact disc media. MediaMax can be found on many Gold, Platinum and Double-Platinum selling Albums including Dave Matthews newly released and soon-to-be-Platinum, Stand Up. Other releases that include MediaMax are Anthony Hamilton's Platinum CD, "Comin' From Where I'm From", J-Kwon's Gold "Hood Hop," and Velvet Revolver's "Contraband" which reached the #1 spot on Billboard's Top 200 Album Chart and achieved Double-Platinum status by selling more than 2 million units. Additionally, SunnComm's MediaMax technology has appeared on many other best-selling albums, totaling over 100 commercially released CD titles across more than 30 record labels.
MediaMax is mastered directly on the audio CD and is accessible using a personal computer. SunnComm was the first company to commercially release a content-protected audio CD co-developing and implementing an early version of the Microsoft Windows Media Data Session Toolkit, and was the first company in America to commercially release a copy-managed audio CD (www.microsoft.com/presspass/press/2003/jan03/01-20SessionToolkitPR.asp). Bonus features include on-board press kits, artist-related promotions, videos, song lyrics, artist bio page, photo gallery, web links and tune-sharing capability through SunnComm's MusicMail(tm) functionality. For more detailed information about the company, its vision or philosophy, personnel, partners, and customers, please visit the company's Web site at (www.sunncomm.com), or call the Company directly at (602) 267-7500. For additional information or investor relations please contact:
Company contact: Investor contact: Peter H. Jacobs Investor Relations 602-267-7500 602-231-0681 peter@sunncomm.com press@sunncomm.com
About MediaMax Technology Corporation
MediaMax Technology Corporation (OTCBB:MMXT), formerly QuietTiger, Inc. (OTCBB:QTIG) with its international reach, implements the delivery of digital content security products for the music and entertainment industry. With established long-term industry contacts throughout the world, the company understands the challenges surrounding digital content management and protection. The MediaMax Technology team of professionals has spent more than 50 years in the music and movie industry. MediaMax Technology (www.mediamaxtechnology.com) is the exclusive sales and marketing arm for SunnComm's MediaMax suite of products.
For additional information about the company, its vision, philosophy, partners, and customers, please visit the Company's Web site at www.mediamaxtech.com or contact:
Company Contact: Investor contact: Scott Stoegbauer Investor Relations 602-267-3800 602-231-0681 scotts@mediamaxtechnology.com press@mediamaxtechnology.com
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
This news release contains predictions, projections and other statements about the future that are intended to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of l995 (collectively, "forward-looking statements"). Forward-looking statements relate to various aspects of the Company's operations and strategies, including but not limited to the effects of having experienced significant losses in the past and the risk that the Company may incur losses in the future; the Company's limited liquidity and significant indebtedness; its sales forecasts for future periods not being attained and the risk that the Company will not conclude additional revenue-generating license agreements covering its content protection and enhancement technologies; the Company's marketing, product development, acquisition investments, licensing and other strategies not being successful; possible future issuances of debt or equity securities; the possible incurrence of significant patent litigation expenses or adverse legal determinations that find our patents not to be valid; new business development and industry trends; the possible need to raise additional capital in order to meet the Company's obligations and most other statements that are not historical in nature. Important factors that could cause actual results to differ materially from those described in the forward-looking statements are described in cautionary statements included in this news release. In assessing forward-looking statements, readers are urged to consider carefully these cautionary statements. Forward-looking statements speak only as of the date of this news release, and the Company disclaims any obligations to update such statements.
-0-