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03/22/12 1:33 PM

#200241 RE: TerribleTwit #200217

~IBRC .0002 iBrands Acquisition of Galileo Moves Forward $$$$$$$


http://ih.advfn.com/p.php?pid=nmona&article=48508878

iBrands Corporation (OTCPink: IBRC), http://www.ibrandscorp.com is pleased to announce
its acquisition of Galileo Optics is moving forward. Most of the issues involved in the acquisition
have been worked through and the transaction is expected to occur in the near future. The
acquisition of Galileo adds a niche brand with substantial name awareness to iBrands portfolio.
Furthermore, once acquired, Galileo will accelerate IBRC’s growth curve resulting in tremendous
benefits for the company and its shareholders. Galileo exemplifies the company’s acquisition
targets – a highly-recognized trademark, a quality product with identifiable niche markets, a strong
management team and positioned for rapid growth.

“In an acquisition of this magnitude, it is important the terms of the acquisition contemplate many
issues. In reviewing the original terms of the letter of intent to acquire Galileo, the sellers attorneys
required substantial restructuring to provide appropriate tax planning for the sellers”, states Paul
Smith, CEO of iBrands. “This hurdle has now been overcome and we expect the agreement to
purchase Galileo will be announced in the very near future.”

About Galileo Optics

Galileo Optics, http://www.galileosplace.com was first introduced to the American market in 1992
providing quality products to the entry through intermediate level consumer optics enthusiasts,
offering telescopes, microscopes, binoculars and associated science products. Today Galileo’s
product line has been expanded to include more advanced optical products including imaging
systems, accessories and gadgets. Over the past 19-years a million satisfied customers have
enjoyed Galileo’s products. The Galileo product lin2e 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.