RegalWorks Media Inc. executed a binding letter of Intent to acquire AmerElite Solutions Inc. (OTCBB:AMRX) from Ameritech International Corp., Oakpoint Distributors, Inc., Cinnabar Group Inc, Cavalier Products, GRHanby Co., Inc., Robert L. Knapp, Nancy vonBargen and other shareholders in a reverse merger transaction on March 15, 2013. AmerElite received $0.01 million from RegalWorks Media to extend the binding letter of intent. The letter of intent also states, if by such date the closing has not occurred, the RegalWorks Media and Ameritech International may mutually extend the closing date for an additional 15 days for an additional fee of $0.025 million to be paid to Ameritech International.

RegalWorks Media Inc. executed a stock purchase and reorganization agreement to acquire AmerElite Solutions Inc. (OTCBB:AMRX) from Ameritech International Corp., Oakpoint Distributors, Inc., Cinnabar Group Inc, Cavalier Products, GRHanby Co., Inc., Robert L. Knapp, Nancy vonBargen and other shareholders in a reverse merger transaction on May 7, 2013. AmerElite Solutions expects to have approximately 70 million common shares issued and outstanding prior to the reverse stock split and conversion of certain debt instruments into equity, which shall result in approximately 2.8 million common shares after the reverse split but prior to the shares being issued for the acquisition of RegalWorks Media. As part of agreement, AmerElite Solutions will issue 11.2 million of shares of its common stock and 5.6 million of its preferred stock. Ameritech International shall escrow a total of 5.6 million of preferred stock. The transaction will take the form of reverse acquisition with the owners of RegalWorks Media initially controlling 80% of the outstanding stock of AmerElite Solutions. Upon completion of the transaction, AmerElite Solutions will change its name to RegalWorks Media Inc.

The agreement requires AmerElite Solutions to satisfy and settle all outstanding obligations prior to the closing of escrow, as well as complete a twenty-five to one reverse stock split of the common shares of AmerElite Solutions. As reported, the existing executive management team of AmerElite Solutions, resigning their positions as officers and Directors and being replaced by RegalWorks Media executive team led by Dane West as Chief Executive Officer. Upon closing of the agreement, the Board of Directors of AmerElite Solutions will approve the increase in the size of the Board of Directors to five members and initially will elect two persons designated by RegalWorks Media to the Board of Directors and one person designated by Robert Knapp shall be elected to the Board of Directors. Robert Knapp, President, Chief Executive Officer and Director and Courtney Knapp, Director of AmerElite Solutions will deliver letters of resignation to be effective on the closing date. Prior to the resignations of Robert Knapp and Courtney Knapp from the Board of Directors, the Board of Directors will appoint Dane West to serve as Chief Executive Officer and Director of RegalWorks Media.

The transaction is subject to a number of conditions precedents, regulatory approval, including satisfactory completion and execution of definitive documentation, due diligence, approval by shareholders of AmerElite Solutions and other closing conditions and AmerElite Solutions and RegalWorks Media have obtained on terms and conditions satisfactory to all parties, all consents and approvals of third parties. The transaction has been approved by Board of Directors of AmerElite Solutions and RegalWorks. As on May 13, 2013, transaction closing has been postponed from April 30, 2013 to May 15, 2013. It is the intent of RegalWorks Media and Ameritech International that RegalWorks Media shall assume control of Ameritech International immediately at the closing. Jeffrey Quick of Quick Law Group PC and J. Holt Smith of Smith & Associates acted as legal advisors for AmerElite Solutions Inc. Quick Law Group PC also acted as escrow agent.