Synchronica plc announced that it has signed a Letter of Intent with Intertainment Media Inc. Synchronica and Intertainment Media intend to integrate Synchronica's flagship messaging platform, Mobile Gateway, with Intertainment Media's Ortsbo experiential language technology. This will enable Mobile Gateway to provide its users with seamless and real-time translation between more than 50 languages potentially across Synchronica's growing client base of over 100 mobile operators and device manufacturers around the world. In addition, Synchronica will enter a joint venture agreement with Intertainment Media and its subsidiary Ortsbo Inc., in which the parties will license their respective Intellectual Properties to a new subsidiary. The subsidiary, which will be jointly-owned by both parties, will allow Synchronica and Intertainment Media to further develop each other's products, share R&D efforts, enlarge each other's business development activities and drive revenue and profitability for both companies from new projects. This joint venture agreement will represent the first step in this commitment, with Intertainment Media making a strategic investment into Synchronica. As part of the transaction, Intertainment Media will, subject to Synchronica shareholder approval, invest up to CAD 10 million in Synchronica, at a minimum price of GBP 0.16 per unit. Each unit will comprise one ordinary Synchronica share, plus one ordinary share warrant, exercisable at CAD 0.40 per share, at any time within two years of issue.