Microgenix Manufacturing Inc. (PKS. MGXMF) has entered an agreement for the acquisition of all 9,209,040 outstanding Common Stock and assets of The Machine Productions Inc. (TMP). The company will acquire the outstanding common stock for 1,990,000 shares of Microgenix Preferred Stock.
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TMP is a multimedia entertainment company which focuses on the delivery of audio and visual entertainment products through merchandising outlets. TMP will operate as a 100% owned subsidiary of Microgenix. TMP will focus on pre-recorded music, publishing catalogs and television production and licensing. The business unit earns additonal income through distribution, video, merchandising and concert promotion.
With the acquisition of The Machine Productions, Microgenix is laying the foundation upon which it intends to build a family of assets in media and related technologies.
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