CSE: FLYY

MediaCentral Corporation (CSE: FLYY) (FSE: TAT) or "MediaCentral") announces that it has entered into an LOI to acquire Varipay Incorporated. MediaCentral has made this acquisition under the provisions of a Purchase Agreement and Purchase Option Agreement dated October 10, 2020. In accordance with this LOI, MediaCentral (I) will acquire 100% of the outstanding shares of MediaCentre, Inc., and (ii) will be entitled to buy the outstanding shares of Varipay, if the market price is less than the option price at closing. MediaCentral will not receive any cash in connection with this acquisition. The Company will, however, receive tax benefits as a result of this acquisition.

MediaCentre is one of the largest online providers of news and information. MediaCentral has been a leading provider of news, sports, weather, and entertainment in the United States and in other countries around the world for over five decades. MediaCentre's technology platform serves millions of users from all sectors of society, including small businesses, government agencies, educational institutions, and multinational corporations. The Company provides customers with a diverse range of high-quality content, which it is able to manage and distribute. The Company is also a provider of news services through the internet. MediaCentre is responsible for publishing news services such as The Washington Post, CNN, The Wall Street Journal, and several other major online news outlets.

This Company Profile is being offered to assist qualified institutional buyers in assessing an acquisition candidate. MediaCentre operates a network of news websites that are located across the United States. These sites feature a variety of content, including news articles, photos, news videos, blogs, and podcasts. A variety of features allows its audience to access and interact with this content on a variety of different platforms. As a leading source of consumer information, MediaCentral is committed to providing a high quality experience to its members.

*This article is intended to be used for informational purposes only. Please consult your financial advisor for personal financial advice related to any organizations mentioned in our articles*