DENVER--(BUSINESS WIRE)--Imagine Media, Ltd., a Delaware corporation (“Imagine” or the “Company”) (OTCBB: IMLE) today announced that it has signed a non-binding Letter of Intent to acquire DMI Life Sciences, Inc., a Denver, Colorado-based biotechnology company. (“DMI”). Under the terms of the LOI, if the acquisition is completed, the shareholders of DMI will acquire approximately 90.52% of the total issued and outstanding shares of the Company, and the transaction will constitute a change in control. Completion of the acquisition is subject to the satisfaction of several conditions precedent, including, without limitation, the execution of a definitive merger agreement, the satisfactory completion of due diligence by both parties, the completion of audited financial statements by DMI, and compliance with federal and state securities laws. There can be no assurance that the transaction will be consummated.
