Sitebrand.com is on its way to going public, with the announcement that its takeover by capital pool company Pretium Capital Corp. has crossed a hurdle.

Vancouver-based Pretium said the TSX Venture Exchange has given conditional approval to Pretium's acquisition of the Ottawa-based maker of software-based interactive marketing solutions.

The deal would see Pretium pay roughly $5.1 million in shares and give options to purchase 1,493,572 common shares of the corporation.

Concurrent with the closing of the acquisition, Pretium is also planning to complete a previously announced private placement of between four million and six million common shares at 50 cents each, for gross proceeds of between $2 million and $3 million.

To read a story on Sitebrand and its plans in the midst of a booming e-commerce industry, click Sitebrand plans public debut as online shopping market explodes for a March 24 story.