WEB NEWS: TORONTO-LIME NEW OWNERSHIP

Toronto, ON, Canada - The rumor mill has been in full swing for several weeks after the sudden announcement that Caribbean news and entertainment website TORONTO-LIME.com would be up for grabs.  Founder and former president Jef Lo, confirmed today that the much sought after brand has been disassembled into its integral parts and sold to two separate Canadian firms.

Time 2 Lime Entertainment, who until now, has been an underground player making waves within the Urban and Caribbean community will reportedly take over the websites key features,  including content and back-end technology.  As part of the recently inked deal in

Mid-February, Mr. Lo has not only handed over the website's existing technologies to Time 2 Lime, but has also given-up an all new back-end, rumored to have been under development for several months now.

While a bit of a surprise to Jef, Time 2 Lime Entertainment declined the highly branded domain name (TORONTO-LIME.com) and will be announcing an all new online name in the upcoming weeks.  Making a successful grab for the heavily touted TORONTO-LIME.com domain was ClubCrawlers, yet another Canadian based online group specializing in club and event promotions.

Neither Time 2 Lime, ClubCrawlers nor Jef would comment on a figure for the exchanges. However, shocking hints have been made suggesting that the transfer of the TORONTO-LIME.com brand did not go to the highest bidder. When asked for validation of the rumor Jef slyly smirked and shared, "At the end of the bidding process the decision was not a hard one. I want the integrity of the business to remain intact and I believe these two firms are best fitted to not only carry on the legacy, but also take things to new heights ".

Although Jef has yet to formally announce plans for future endeavors, Time 2 Lime has confirmed that Jef  will remain a key part of their organization for a one year period as the company’s marketing consultant.  In the immediate weeks Jef will be developing the business model and marketing strategy for Time 2 Lime’s upcoming online project. Both the management team and moderators will be recruited by Jef.

A definite launch date was not offered, but Time 2 Lime’s new website is expected to go live some time in either March or April 2012. The future of the TORONTO-LIME.com (domain name) has yet to announced.