Liquid Media Completes Acquisition of iNDIEFLIX
September 23 2021 - 9:20AM
Liquid Media Group Ltd. (“the Company,” “Liquid Media” or “Liquid”)
(Nasdaq: YVR) today announced the completion of its acquisition of
iNDIEFLIX Group Inc. (“iNDIEFLIX”), a global market leader in
educational entertainment or ‘edutainment’. The closing of the
acquisition adds a key asset to Liquid’s four-stage business
solution engine, which is designed to drive sustainable growth for
independent intellectual property (IP) owners and producers.
“We are delighted to welcome our talented new
colleagues from iNDIEFLIX to the Liquid Media family and to be
continuing along a path that will augment our growth for years to
come,” said Ronald Thomson, CEO of Liquid.
iNDIEFLIX is a global subscription
video-on-demand streaming service focused on content with a
purpose. Cofounded by award-winning Producer, Director, Costume
Designer and Author Scilla Andreen, its success in providing
monetization opportunities for IP owners syncs perfectly with
Liquid’s mission to help creatives take their professional content
from inception to monetization.
“Independently produced social impact
programming is in demand and more relevant than ever. Having
created meaningful content and built a wide distribution
infrastructure in the education, corporate and government spaces, I
felt it was time to find a partner who could support our growth. I
found the perfect match in Liquid Media,” said Scilla Andreen,
iNDIEFLIX CEO & Co-Founder. “I love working with Ron, and the
entire Liquid team. Now we have access to greater resources and can
tap into a family of great companies to further our mission. I’m
excited about taking the good we do in the world to the next
level.”
Liquid Media’s iNDIEFLIX will continue with its
excellent work in the social impact area of edutainment, creating,
promoting and distributing important films, video curriculum,
educational materials and more to B2B and B2C audiences around the
world, across corporate, private, education, government and public
sectors. In parallel, iNDIEFLIX will play an important role in
stage four of Liquid’s business solution engine as the Company
supports independents towards IP monetization in a shifting
landscape.
Liquid acquired iNDIEFLIX for up to 2.5M common
shares of Liquid, which are scheduled to be paid out to iNDIEFLIX
investors across specific performance milestones in five equal
tranches of 500,000 common shares each (the “Consideration
Shares”). The first tranche of Consideration Shares was paid on
closing, with four remaining milestones to be triggered by
iNDIEFLIX revenues totaling up to US$65M in the years ahead.
Additional cash is being invested in iNDIEFLIX’s ongoing
operations, to be applied towards working capital and production of
original content for iNDIEFLIX’s education and other channels.
Further details of the acquisition will be available in the
Company’s Q3 financial statements filed on SEDAR.
About Liquid Media’s
iNDIEFLIX:
A Liquid Media Group company, iNDIEFLIX Group
Inc. is a global 'edutainment' streaming service that creates,
promotes and supports social impact films to create positive change
in the world.
Additional information is available at www.iNDIEFLIX.com
Linkedin / Twitter / Instagram / Facebook
About Liquid Media Group
Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is a
business solutions company empowering independent IP creators.
Liquid’s end-to-end solution will enable professional video
(film/TV and video game) creation, packaging, financing, delivery,
and monetization, empowering IP creators to take their professional
content from inception through the entire process to
monetization.
Additional information is available at
www.LiquidMediaGroup.co.
Further information:
Primoris Group+1 (416)
489-0092pg@liquidmediagroup.co
Media requests:
Investor / BusinessAdam
BelloMedia & Analyst Relations ManagerPrimoris Group Inc.+1
(416) 489-0092 x 226media@primorisgroup.com
IndustryJane OwenJane Owen PR+1
(323) 819-1122 jane@janeowenpr.com
Cautionary Note Regarding
Forward-Looking Statements
This news release includes statements containing
certain "forward-looking information" within the meaning of
applicable securities law ("forward-looking statements").
Forward-looking statements are typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate",
"potentially" and similar expressions, or are those, which, by
their nature, refer to future events. Such forward looking
statements include, but are not limited to, statements related to
the business and revenue growth of iNDIEFLIX. These statements
should not be read as guarantees of future performance or results.
Further, such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance, or achievements to be materially different from those
implied by such statements. Such factors include, but are not
limited to: developments related to the COVID-19 pandemic,
regulatory actions, market prices, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements. Forward-looking statements are based on
the beliefs, estimates and opinions of the Company's management on
the date the statements are made. The Company is under no
obligation, and expressly disclaims any intention or obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
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