AMPD Ventures Inc. (AMPD) announced that it has signed a non-binding letter of intent (the LOI) for the acquisition of a full-service studio with capabilities that range from virtual cinematography to animation services (the Target). Pursuant to the LOI, AMPD will acquire 100% of the equity of the Target. If completed, the acquisition is expected to bring a well-established, profitable industry leader who has consistently delivered several million dollars in annual revenue into the AMPD group expanding the AMPD group's offerings to the market with a range of complementary services.

The acquisition will be funded through long-term low-cost debt and shares. The acquisition is being supported by a major Canadian banking institution. Completion of the acquisition is subject to the completion of due diligence by the relevant parties, the execution of the definitive transaction agreements, and other customary closing conditions, including any regulatory approvals.

There can be no assurance that a definitive agreement will be entered into or that the proposed acquisition will be consummated.