Liquid Media Nominates M&A Board Strategist to Maximize Value of Waterproof Asset
August 25 2020 - 8:00AM
Liquid Media Group Ltd. (the “Company”, “Liquid Media” or “Liquid”)
(Nasdaq: YVR) is pleased to announce the nomination of mergers and
acquisitions (M&A) strategist Andrew Kaplan to the Board of
Waterproof Studios Inc. (“Waterproof”), in which Liquid holds a 49%
interest. Kaplan plans to lead a strategic review of the Waterproof
asset with the aim to maximize capabilities and long-term value for
Liquid shareholders.
Kaplan has 20 years of experience in working
with companies that have considerable growth potential, and
assisting management and its Board of Directors to navigate and
access the capital markets in a manner that maximizes shareholder
value and minimizes the company’s cost of capital.
A market leader in Hollywood North, Waterproof
creates cutting-edge imagery and specializes in computer-generated
production, VFX and animation for the gaming industry, traditional
film and TV studios, distributors, broadcasters and other streaming
service providers. In recent years, Waterproof has successfully
completed projects for Microsoft's Gears of War and Warner Bros
Mortal Combat 11, among others.
“We believe Waterproof is a high-performance
asset with a proven track record, positioned to excel in the
current market,” said Kaplan. “I am excited to join the team and
work to discover additional mechanisms to unlock the studio’s full
potential.”
“We are pleased that Liquid’s Board of Directors
and advisory board have gelled together so well to help support
Waterproof,” said Daniel Cruz, co-founder and CFO of Liquid and a
Director of Waterproof. “We believe the addition of this Liquid
team member will bring the strength of our advisory board across
verticals for strategic guidance, and further our ability to
execute on a clear vision to drive revenue for all
shareholders.”
Hollywood North’s animation industry continues
to ramp up production, and projections for the global VFX,
animation and game industries predict growth through 2026. The
global video streaming market, valued at USD$42-billion in 2019, is
estimated to record unprecedented growth through 2025, with VFX
estimated to account for 20-25% of total production budget.
Pursuant to the shareholders’ agreement among Waterproof and its
shareholders, Liquid is entitled to determine three out of the six
Board members of Waterproof. Andrew Kaplan will replace Charles
Brezer, Liquid’s President, on the Waterproof Board. Liquid thanks
Mr. Brezer for his contributions to Waterproof’s strategic
leadership and corporate governance, and looks forward to Mr.
Brezer’s continued leadership and focus on the development of
Liquid’s business going forward.
About Liquid Media Group
Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is an
entertainment company with a strong portfolio of content
intellectual property (IP) spanning creative industries.
Originating in Vancouver’s media and entertainment supercluster,
Liquid’s mission is to empower storytellers worldwide to develop,
produce and distribute content across channels and platforms.
Liquid Media’s leadership team includes Chairman
Joshua Jackson (actor / producer, television and
film), Chief Financial Officer Daniel Cruz
(previously of Canaccord Financial), Managing Director
Charlie Brezer (serial entrepreneur), Director
Stephen Jackson (Northland Properties), and
Director Nancy Basi (veteran Media + Entertainment
expert), alongside Advisory Board members Wilson J.
Tang (acclaimed digital entertainment veteran),
Andrew Kaplan (capital markets strategist) and
Michael Timothy Doyle (veteran interactive
entertainment industry production executive). Each brings decades
of industry expertise and significant passion to advance the
Company’s mission.
Additional information is available at
www.LiquidMediaGroup.co.
Further information:
Daniel CruzLiquid Media Group Ltd.+1 (416)
489-0092pg@liquidmediagroup.co
Media requests:
Adam BelloMedia & Analyst Relations
ManagerPrimoris Group Inc.+1 (416) 489-0092 x
226media@primorisgroup.com
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