Liquid Media Group Ltd. (“the Company,” “Liquid Media” or “Liquid”)
(Nasdaq: YVR) today announced that, further to its press release
dated June 9, 2021, it has executed a definitive agreement to
acquire iGEMStv, Inc. (“iGEMStv”), which provides the most
comprehensive content recommendation engine on the market. The
closing is expected to be completed in the coming days as remaining
customary closing conditions are fulfilled, and adds another key
asset in stage IV of Liquid’s four-stage business engine, a
powerful solution to help professional film, television and video
creators/producers outside the major studio system achieve
sustainable growth.
“iGEMStv is an important tool for
discoverability, curation, recommendation and monetization,” said
Ronald Thomson, CEO of Liquid. “We believe this latest addition to
the Liquid Media family of companies will play a vital role in
helping independent intellectual property (IP) owners attract new
audiences and increase the market share for their creative works.
We are also excited to welcome the brilliant iGEMStv talent to our
growing team.”
iGEMStv uses a unique blend of machine learning
anchored by human curation to help audiences discover engaging
movies, TV series and TV programs to watch, and shows them where
they can be viewed. This includes traditional genres, trending
carousels and recommendations for programming not found in the
massive libraries of the larger streaming platforms. Additionally,
movie and TV collections are curated by a trusted guide especially
for iGEMStv users, and they recommend gems on Filmocracy as well as
titles playing exclusively on niche platforms, including projects
still on the film festival circuit.
“Ron and the Liquid team are building an
innovative studio of the future, with the right combination of
tools, assets and platforms to have a powerful impact on this
industry,” said Jon Fitzgerald, Founder and CEO of iGEMS. “As the
independent film landscape continues to evolve, we’re excited for
iGEMS to join the LMG family, and to be part of the business
solution.”
Under the terms of the definitive agreement,
Liquid will acquire iGEMStv for up to 850,000 common shares of
Liquid at a deemed price of $2.00 per share, which are scheduled to
be paid out to iGEMStv investors across specific performance
milestones in four equal tranches of 212,500 common shares each
(the “Consideration Shares”). The first tranche of Consideration
Shares is to be paid on closing, with three remaining milestones to
be triggered by iGEMStv revenues totaling US$9.5M in the years
ahead. Additional cash is being invested in iGEMStv’s ongoing
operations, applied towards working capital, technology
infrastructure and marketing.
Further details of the acquisitions will be
available in the Company’s year-end financial statements filed on
SEDAR.
About iGEMStv
With the growing volume of Movie and TV Series
options, and the explosion of digital streaming platforms, iGEMStv
has created the most comprehensive recommendation engine on the
market. Human curation, word of mouth and machine learning combine
to help audiences discover what to watch, and where they can find
it. They put out a weekly newsletter with iGEMSelections, sent to
over 5,000 subscribers. iGEMSpro provides resources to the
independent film space, aggregating news articles, podcasts and
videos, while providing reports, affiliate discounts and online
courses to support independent filmmakers. The iGEMSpro Directory
is a sales platform for independent films to generate sales in the
international marketplace.
iGEMS is producing Filmocracy Fest 2021, which
takes place December 9th to 12th, 2021 in Los Angeles and across
the United States with hybrid in-person and virtual programming,
alongside Founding Partner Filmocracy. Liquid Media is the
presenting sponsor.
Additional information is available at
https://www.igems.tv/.
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 Inc.+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. These statements should not
be read as guarantees of future performance or results. 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, as well as additional
risks disclosed in the Company’s annual and quarterly financial
reports available at www.sedar.com. 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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