Mooter Media completes Hot Shot buy

Digital media and internet advertising company Mooter Media (ASX:MMZ) has completed the acquisition of Hot Shot Media.

The company has issued 375 million Mooter shares to Hot Shot Media shareholders, of which 230 million will be quoted on the ASX and 145 million will be held in escrow for 12 months.

Mooter has also allotted 100 million shares and 100 million options to serve as an incentive plan for Hot Shot Media's US technology team. These shares will remain unlisted until they meet certain conditions laid down by trustee Hot Shot Media, Inc.

The acquisition was mooted in April, and approved by shareholderslast month. MMZ shares are today trading unchanged at $0.010.