iBrands Corp. Finalizes Terms for Copernicus Optics Acquisition

/ Source: GlobeNewswire

ATLANTA, Feb. 24, 2011 (GLOBE NEWSWIRE) -- iBrands Corp. (OTCBB:IBRC) () is pleased to announce that it has finalized terms toward its acquisition of Copernicus Optics (), a web-based optics retailer offering a complete assortment of consumer optics products including telescopes, microscopes, binoculars and associated science and sports products. iBrands Corp. is simultaneously finalizing a deal to acquire Galileo Optics () as a complementary strategy which will position the company in the consumer and sport optics industry with subsidiaries servicing active wholesale buyers, high-end retail markets and worldwide e-commerce sales.

iBrands CEO, Paul Smith, comments: "The deals on both Galileo and Copernicus Optics are moving forward and we are waiting for the attorneys to finalize documents. This marks an exciting growth phase for iBrands Corp. as we hit the ground running with the launch of our consumer and sport optics division, both companies therein providing immediate additional revenue streams. We feel our abilities in terms of internet marketing will take both companies to new levels, outperforming previous market expectations with increased exposure and streamlined distribution in an ever-growing marketplace." 

He continues, "This is a prime opportunity to enter this market as it is now making impressive recovery from a long-lasting down-turn. This works highly to our advantage as recovery is imminent and opportunities abound. According to the National Sporting Goods Association in a March 2010 report, Sport Optics alone experienced a 4% increase this year with in excess of $1b in revenues and market opportunities within military, medical imaging and communications sectors are vast and increasing at a precipitous rate."

SAFE HARBOR STATEMENT: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.

CONTACT: iBrands Corporation Investor Relations Paul Smith, 1-866-595-1081 info@ibrandscorp.com