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[Kronborg]

Tesoro Enterprises Inc (PINKSHEETS: TSNP) today announced that it has signed a non-binding letter of intent (LOI) which contemplates a proposed reverse merger with InPlays Sports Corp. (InPlays), a privately held company specializing in online media and marketing targeting high school and college students.

Under the terms of the LOI, InPlays would acquire Tesoro Enterprises Inc., pursuant to the contemplated merger exchange agreement. Following the closing of the anticipated merger, InPlays would emerge as the surviving company with a name and symbol change to follow. The merger is subject to a number of conditions, including the signing of a definitive merger agreement by November 7, 2011.

http://ih.advfn.com/p.php?pid=nmona&article=49106673&symbol=TSNP

~Kronborg