Soul and Vibe Interactive Inc. (OTCBB:SOUL) signed a letter of intent to acquire Soul and Vibe Entertainment, Inc. for $11.1 million in stock on January 28, 2013. Soul and Vibe Interactive Inc. (OTCBB:SOUL) signed a share exchange agreement to acquire Soul and Vibe Entertainment, Inc. on February 5, 2013. As per the deal, Soul and Vibe Interactive will issue 37 million shares of its common stock for 18 million shares of Soul and Vibe Entertainment. As of September 30, 2012, Soul and Vibe Entertainment, Inc. had total shareholder's equity (deficit) of $0.05 million and total assets of $0.005 million. After the completion of the transaction, Pauline Carson, current Chief Executive Officer, President, and Chief Finance Officer of Soul and Vibe Interactive resigned as Chief Executive Officer, President and a member of its Board of Directors and will become Vice president and Peter Anthony Chiodo, member of the Board of Directors Soul and Vibe Interactive, Vice President, and founder of Soul and Vibe Entertainment, will become Chief Executive Officer, President, Treasurer and Secretary of Soul and Vibe Interactive.

The transaction is subject to approval by Board of Directors and shareholder of Soul and Vibe Entertainment. The transaction was approved by Board of Directors of Soul and Vibe Interactive Inc. BK Consulting & Associates, P.C and Sichenzia Ross Friedman Ference LLP acted as the legal advisor and Island Stock Transfer acted as the transfer agent for Soul and Vibe Interactive Inc. Andrew Haag of IRTH Communications acted as the PR advisor in the transaction.