Replies to post #7156 on iBrands Corp. (IBRC)

[NJ_TOAD]

iBrands Corporation Signs Letter of Intent to Acquire Copernicus Optics

ATLANTA, Feb 15, 2011 (BUSINESS WIRE) -- iBrands Corporation (OTCPink: IBRC), www.ibrandscorp.com, - a holding company targeting the merger and acquisition of niche brands positioned for rapid growth through proven products -- today announces the signing of a letter of intent to acquire Copernicus Optics. Copernicus Optics, www.copernicusoptics.com, is a web-based retailer offering a complete assortment of consumer optics products including telescopes, microscopes, binoculars and associated science and sports products.
"We launched the Copernicus brand and web site in 2010 in order to fulfill our growing demand for more advanced consumer optics. We chose Internet retailing as our primary sales distribution channel in order to provide maximum value to the consumer, while assuring optimal profit margins to the company," states Mr. Michael Wittmeyer, President and Founder of Copernicus Optics. "The Internet provides global sales opportunities for the Copernicus assortment of products. iBrands' expertise in Internet marketing will provide the experience required to achieve a global presence in the consumer optics industry."

"The acquisition of www.copernicusoptics.com provides IBRC with a complementary brand to Galileo where we are able to market higher-end retail recreational consumer optics without injuring our Galileo wholesale distribution channels. The Galileo product line is sold through wholesale channels consisting of big box retailers, specialty electronic chains, sporting good stores, Internet retailers, direct response TV, and premium/mail order catalogs. Examples of Galileo's retail base are QVC, Costco, Fry's Electronics, Radio Shack, Kohl's, Amazon and Overstock.com," states Paul Smith, CEO of iBrands. "Additionally, a higher gross margin delivered by Copernicus will balance the company's profit margins and greatly assist in achieving our revenue goals of $20 million from our consumer optics division."

Terms of the acquisition will be disclosed in the near future.

SAFE HARBOR STATEMENT: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.

SOURCE: iBrands Corporation



CONTACT:
iBrands Corporation Investor Relations Paul Smith, 866-595-1081 [e-mail]
Copyright Business Wire 2011
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KEYWORD: United States
North America
Georgia
INDUSTRY KEYWORD: Online Retail
Retail
Other Retail

[Ex Blockman]

Well, that 'wall' at .0045 sure didn't last long, lol!