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Salt Lake City — Interline Resources Corp. (IRCE), a Utah corporation, has acquired QUICKflickUSA, Inc., a DVD rental kiosk company. Under terms of the agreement, IRCE will acquire 100 percent of the outstanding equity of QUICKflick in exchange for 60 million restricted shares of IRCE's common stock. The transaction structure specifies that 40 million of the restricted shares of the common stock will be subject to a lock-up agreement for two years from the date of the acquisition.
Founded in 2007, QUICKflick is a leading DVD kiosk operator in Canada, doing business with retailers including Canada Safeway, 7-Eleven Canada and Rexall Drug Stores.
“We’ve now gained a strong entry into the highly attractive business of automated retail," said Tim Regnier, president and COO of IRCE. "The strategic acquisition of QUICKflick has the potential to be the platform for the expansion of automated retail delivery of products we envision.”