DBMM's Partner VMS Releases New Technology Roll Out and DBMM Public Market Update
November 19 2013 - 1:59PM
Marketwired
DBMM's Partner VMS Releases New Technology Roll Out and DBMM Public
Market Update
NEW YORK, NY--(Marketwired - Nov 19, 2013) - Digital Brand Media
& Marketing Group, Inc. (OTCQB: DBMM) and VMS Holdings (VMS)
have jointly announced an enhancement to the partnership
relationship released to the press on August 18th coincident with
Letter of Intent between the parties.
Reggie James, Co-Chief Operating Officer and Senior
Vice-President Marketing and Communications commented, "As we
continue to implement our business plan and finalize the Letter of
Intent (LOI) into a Joint Venture, there is an additive phase being
developed between DBMM and VMS Play with the release of Version 2
of the software." James added, "Video messaging is maturing with an
audience in the billions with applications to match. With companies
like Facebook's Instagram and Twitter's Vine helping to drive the
sector, the recent news that Microsoft is introducing video
messaging via Skype is a strong indicator that both deployment and
adoption of this technology can only grow."
The various revenue streams provided by version 2 only enlarge
the product offering both parties can integrate into their existing
client development.
Magnus Kniving, CEO of VMS, included his comments, "Coming out
of beta, VMS2 has a number of unique features including an
integrated payment system that will appeal to e-commerce customers
as well as reaching a wider audience with a new self-service
version of the platform."
Both parties expect to finalize the Agreement shortly following
conclusion of the due diligence process. In addition, the Company
is very pleased to report that the "Chill" imposed by the
Depository Trust Company (DTCC) in September, 2012 has been
satisfactorily resolved earlier this month. DBMM's independent
outside counsel, retained by the Board of Directors specifically to
address the matter, received the following decision, "Please be
advised that The Depository Trust Company has determined to lift
the Deposit Chill and has resumed accepting deposits of the Issue
for depository and book entry transfer services." As this was the
last open item regarding the Company's financial reorganization,
the Company is executing its Business Plan, including its funding
initiatives and acquisition development.
DBMM is in the midst of its 10-K audit preparation for the
fiscal year ending August 31, 2013. Following the practice of
previous years, the 10-K will be filed on or about December 15,
2013.
About Digital Brand Media & Marketing Group, Inc. (DBMM)
DBMM Group crafts, designs and executes digital marketing
strategies across multiple ad platforms and social media networks
for a broad array of clients to help each of them establish a
uniform brand identity across the digital universe. The product
offering is a unique value proposition of intelligent analytics
provided by an experienced digital marketing and technology team.
DBMM is an OTCQB Company, Symbol OTCQB: DBMM.
About VMS Holdings, Inc. (VMS) VMS Holdings, Inc. develops a
mobile application for sharing videos. Its mobile application
allows companies and users to send and receive video content to and
from a mobile phone; subscribe for a favorite celebrity, actor,
TV-channel, or team and get video updates; and create your own
channel and become a broadcaster, as well as serves as a tool for
mobile marketing and sales. The company's mobile application is
available for Android, BlackBerry, iPhone, and Symbian devices. It
distributes its mobile application through distributors, and mobile
device and application stores in Africa, Europe, Asia, North
America, and South Africa. It serves mobile operators and media
companies, government organizations and law enforcement agencies,
premium content providers and retailers, sports clubs, and
celebrities worldwide.
Safe Harbor Provisions The foregoing contains certain predictive
statements that relate to future events or future business and
financial performance. Such statements can only be predictions, and
the actual events or results may differ from those discussed due
to, among other things, those risks described in DBMM's reports
filed with the SEC. Opinions expressed herein are subject to change
without notice. This document is published solely for information
purposes, and is not to be construed as an offer to sell or the
solicitation of an offer to buy any securities in any state. Past
performance does not guarantee future performance. Additional
information is available upon request.
CONTACT: Digital Brand Media & Marketing Group, Inc. IR
Contact: info@dbmmgroup.com
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