Digital Shelf Space Corp. (CVE:DSS)(OTCQX:DTSRF) Thursday signed an exclusive video production agreement with Golf Experiences, operator of the PGA TOUR's TOURAcademy.
Thursday morning shares rose almost seven percent to $0.16 on Toronto's Venture exchange.
The agreement, which includes the production, marketing, and global
distribution of a direct-to-home DVD golf instructional series, will be
marketed under the TOURAcademy brand name and is slated for release
early this summer.
The agreement is exclusive for a period of three years and includes
an option to extend for one-year consecutive terms afterwards.
Digital Shelf Space,
an independent creator, producer and distributor of home entertainment
content targeted at the sports and fitness space, is known for its GSP
RUSHFIT home workout DVD series, which features Mixed Martial Arts (MMA)
welterweight world champion Georges St-Pierre.
GSP RUSHFIT recently reached Amazon.com's
top 20 bestseller list after only three months of being listed on the
website. The DVD fitness series has exploded in popularity since
launching in December 2010, with international distribution taking off.
The company recently announced the home workout DVD series began
retailing in Australia in the first quarter, and in February announced
the start of retailing in the Philippines.
"We had been seeking a vehicle whereby we could effectively translate
our world-class golf instruction program and methodology into a format
which could reach golf enthusiasts across the country and around the
world," said Golf Experiences' president and chief experience John
"This new video series format will allow us to do just that. We are
confident that this team is well-equipped to deliver a high-quality,
high-appeal, DVD instructional product."
Digital Shelf Space's
president and chief executive Jeffrey Sharpe added: "We are pleased to
be working with Golf Experiences and one of the top brands globally in
all of professional sports."
The company said that as part of the agreement with Golf Experiences, Digital Shelf Space
issued 1.25 million units at a price of $0.20 each to Golf Experiences,
raising $250,000 for marketing, advertising, working capital and
general corporate purposes.
Each unit consists of one common share and one half common share
purchase warrant. Each whole purchase warrant will entitle Golf
Experiences to purchase one common Digital Shelf Space share at $0.30 per each on or before the date 60 months following the closing of the offering.
Sharpe concluded: "Golf Experiences has further demonstrated its
confidence in our organization's ability to deliver long term value in
exchange for the $250,000 investment in DSS.
"We are confident that together we will deliver a premium TOURAcademy experience program to golfers all around the world."