News Release 2012-08
May 8, 2012
Vancouver, BC, May 8, 2012, Lori McClenahan, President of Intigold Mines Ltd. (the “Company” or “Intigold”), announced today that the Company has entered into a letter agreement with TTAGIT Social Networks Inc. (“TTAGIT”) whereby Intigold has agreed to purchase a 51% interest in TTAGIT.
Pursuant to a letter agreement dated May 8, 2012, Intigold agreed to purchase and TTAGIT agreed to sell a 51% interest, subject to a 2.5% royalty, in TTAGIT in consideration of Intigold paying to TTAGIT the aggregate sum of $300,000 in cash and funding $500,000 for the development and marketing of TTAGIT over a 12 month period.
In addition, Intigold shall have the right to purchase 1.5% of the 2.5% royalty from TTAGIT for the sum of $10,000,000 thereby reducing the royalty payable to TTAGIT from 2.5% to 1.0%.
TTAGIT Social Networks Inc.
TTAGIT holds all right, title and interest in and to certain assets relating to a “proprietary” social networking technology and online Internet commentary system, and the intellectual property rights therein.
TTAGIT is the first social network that allows you to comment on everything across the web with one login. It was designed to “tag” the moment. TTAGIT is a mobile application that lets you comment or annotate on anything with a URL or a GPS location from your browser, tablet or mobile phone without the hassles of logging in and out of several accounts.
TTAGIT technologies are cutting edge with fast modern frameworks, languages and cloud servers. In addition, TTAGIT technologies are geared toward the rising mobility use and the upcoming internet TV.
Intigold also announces that pursuant to the Company’s Stock Option Plan, the Company will grant incentive stock options to directors, officers, and consultants of the Company to purchase an aggregate 1,000,000 shares in the capital of the Company at an exercise price of $0.30 per share for a period of two years.
For information on Intigold and its projects, please visit us at www.intigold.com or call Lori McClenahan, President at 604-669-4677 or toll free at 1-888-895-5522:
INTIGOLD MINES LTD.
(signed “Lori McClenahan”)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.