Yappn Corp. (OTCPK:YPPN) signed a non-binding letter of intent to acquire key assets from Ortsbo Inc. for $13.8 million on May 26, 2015. The terms include the transfer of up to $1 Million in debt and $16 Million in Yappn equity. The consideration will be paid by issuing 83.13 million shares at the rate of $0.05 per share and issuing 176.87 million shares to Winterberry Investments Inc. The transaction and terms are subject to the execution of definitive agreements between the parties and both parties will be required to obtain all necessary approvals, including shareholder approval, if required, and the approval of the TSX Venture Exchange. As of July 6, 2015, the parties have entered into a definitive agreement and the transaction is approved by the Toronto Stock Exchange. On August 17, 2015, Intertainment Media approved a resolution that upon the closing of the deal it will escrow 50 million common shares of Yappn in favor of the secured debenture holders of Intertainment. The transaction was approved by the Board of Director of Yappn Corp., parent of Intertainment Media. The transaction is expected to close on or before September 15, 2015. Intertainment Media's shareholders approved the transaction on August 31, 2015. As of September 9, 2015, TSX Venture Exchange has accepted for filing documentation relating to the transaction.

Marek Lorenc of DLA Piper (Canada) LLP acted as legal advisor for Ortsbo. Peter Simeon and David Campbell of Gowling Lafleur Henderson LLP acted as legal advisor for Yappn.