Wellington Financial provides financing for Impact Mobile

on February 15, 2008 - Comments (View)
$2 Million to fuel growth, US expansion

Toronto, Ontario (February 13, 2008)- Wellington Financial LP, a privately held specialty finance firm, today announced a $2 million venture debt financing for Impact Mobile Inc. (“Impact Mobile”), a North American leader in mobile media solutions.

Proceeds from the financing will be used for further U.S. expansion and to add to the Impact Mobile team, headquartered in Toronto.

“Cell phones and other mobile devices are increasingly providing an anytime, anywhere channel to communicate to consumers,” said Mark Usher, Partner at Wellington Financial.
Impact Mobile provides technology and capabilities to a number of world class media companies to help them monetize this channel and our True Growth Capital will help to accelerate their expansion strategy.

Impact Mobile’s JumpTXTTM suite of applications provide brands and media companies with the mobile technology necessary to connect with their target audiences and to allow their traditional media (print, broadcast, out-of-home, online banners and live event) to become interactive and help drive this audience to point-of-sale, web and into future customer relationship management opportunities (CRM).

“Impact Mobile’s technology allows our clients to reach their target market in a number of innovative ways while giving the client the measurability that is missing from traditional media. The financing will allow Impact Mobile to accelerate the introduction of new applications to the market, and to increase our resources to handle the growth in our business,” said Gary Schwartz, CEO of Impact Mobile.

LaBarge Weinstein LLP and Cognition LLP provided legal advice for this transaction. Wellington Financial LP is currently managing a $400 million investment program via Wellington Financial Fund III. Since Fund III began operation in September 2006, Wellington Financial LP has led more than $125 million of transactions, making it the most active fund of its kind in Canada.

About Wellington Financial LP

Wellington Financial LP is a privately held specialty finance firm providing operating lines of credit, term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently deploying a $400 million investment program via its third fund. The fund’s clients vary in size and business model, but generally have current year revenue of approximately $5 million.

Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. Limited partners include several of Canada’s largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.

About Impact Mobile

Impact Mobile provides wireless marketing solutions to global brands, agencies, and wireless carriers via its proprietary JumpTXTTM platforms and applications. Impact Mobile also works with music, sports, and other entertainment partners to provide custom interactive marketing applications.

Impact mobile has carrier connections throughout North America as well as a network of worldwide aggregation partners. The company was recently ranked as the fifth fastest growing Canadian Technology Company in 2007 by Deloitte. Impact Mobile is a privately held company and headquartered in Toronto, Ontario, with US operations in New York, NY, Richmond, VA, and Los Angeles, CA. For more information on Impact Mobile, please visit www.impactmobile.com.

For additional information:

Amy Olah
Marketing Manager, Wellington Financial LP
Tel: (416) 682-6002, aolah@wellingtonfund.com

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