Powerstar completes acquisition of Skyboard

CALGARY, Alberta — Powerstar International Inc. announced the completion of its previously announced acquisition of Skyboard Corp. of Calgary, Alberta. The final purchase consideration was 4,179,034 common shares of Powerstar at a deemed price of $0.5265 per common share, being a 15 percent discount to the 20-day weighted trading average prior to closing and $49,880.25 in cash. Skyboard operates six outdoor video billboards in Alberta and has sales contracts for an additional 22 digital billboards across Canada. These billboards reach about 14 million people each week. Skyboard recently acquired HighPoint Media Ltd. of Edmonton, one of the largest video billboard marketing companies in North America. Skyboard will operate as a wholly owned subsidiary of Powerstar.

Powerstar is a provider of digital signage and communications networks for consumers, businesses and the U.S. government. Powerstar provides services under its Solutrea brand and companies. The company provides public Wi-Fi networks, digital signage, corporate communications and business television over wireless, satellite and terrestrial platforms.