RENO, Nev. -- (BUSINESS WIRE) -- Indigo-Energy, Inc. (“Indigo”) (Pink Sheets:IDGG) announced today that on May 25th, 2014, it signed an Agreement and Plan of Merger to merge with Fetopolis, Inc. (“Fetopolis”). Fetopolis is a digital publishing and broadcast company headquartered in Ontario, Canada, that focuses on developing content for magazines, publishers, designers, brands, and products.
Under the terms of the merger agreement, all of Fetopolis’ outstanding shares of capital stock shall be exchanged for a number of shares of Indigo Common Stock that will represent ninety-five percent (95%) of the outstanding shares of Indigo, on a fully diluted basis, after the closing of the transaction.
The closing of the merger remains subject to the occurrence of certain closing conditions more fully articulated in the agreement and plan of merger as disclosed in the Company’s recent 8K filing. Upon the closing of the merger, the Company intends to adopt and pursue the business strategy and products of Fetopolis as its primary business. Fetopolis owns several online fashion, lifestyle, and women’s magazines, and also provides photography, web design, and social media consulting services, with their content estimated to reach over 100 million people monthly through its partners. Fetopolis sells its advertising only on a cost per impression (CPM) basis. Fetopolis is a company founded on the vision of developing content for magazines, publishers, designers, advertisers, brands, and products.
James C. Walter, Sr., Chairman of Indigo, stated, “We are impressed with Fetopolis’ strong record of achievement, both in terms of the quality of its services and its revenue model. We are excited about the combined vision and prospects in this partnership.”
Raaj Kapur Brar, Chief Executive Officer of Fetopolis, Inc., is slated to head the Board of Directors of the combined company upon the closing of the merger. Mr. Brar added the following statement: “We are very pleased to align ourselves with Indigo and look forward to creating shareholder value while maintaining our client focus and furthering our mission to inspire and entertain. We plan to continue to build Fetopolis, and believe that this partnership is an important step in that direction.”
About Fetopolis, Inc.:
Fetopolis, Inc. is a digital publishing and broadcast company with a strong revenue model that is experiencing significant growth. The company focuses on selling advertising around the content they either produce or license on their owned and operated websites. Fetopolis owns or licenses online fashion and lifestyle magazines, including Fashion Style Magazine (www.fashionstylemag.com), South Asian Life (www.southasianlife.com), The Woman Life (www.thewomanlife.com), the Man Life (www.themanlife.com), Frontline Wire (www.frontlinewire.com), and HDI Max (www.hdimax.com). Fetopolis also consults companies in media buying and advertising, web design, and photography (including both HD stills and HD film). As a consultant, Fetopolis helps its clients develop content to reach their online audiences by creating custom campaigns that simultaneously integrate elements of design, content, and media buying to expand their reach. Their clients include small businesses, publishers, designers, and advertising agencies. Fetopolis focuses content online via partner networks, giving its websites hundreds of millions of impressions daily. More information can be found about Fetopolis at www.fetopolis.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Indigo, Fetopolis, and their plans, products, and related market potential. Forward-looking statements may be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “reach,” “will,” “believes,” “estimates,” “potential,” or “continue,” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Indigo’s filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Indigo-Energy, Inc. and Fetopolis undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.