Chancellor Group Signs Deal With Mimvi to License Its Proprietary Search and Recommendation Technology
February 28 2013 - 9:00AM
Marketwired
Chancellor Group Inc. (OTCBB: CHAG) announced today an agreement
with Mimvi Inc., the premier mobile application search and
discovery engine, to license its proprietary search and
recommendation technology for Chancellor Group's recently-formed
technology subsidiary Pimovi Inc.
The deal will enable Pimovi, which is currently developing a
proprietary technology platform for pictures, movies and videos, to
power its multimedia products with built-in cognitive intelligence.
Chancellor Group and Mimvi will share revenue generated by products
built using the licensed technology.
"The decision to license Mimvi's search and discovery technology
fulfills what we saw as an immediate need," said Maxwell Grant,
Chairman and Chief Executive Officer of Chancellor Group, who also
heads up Pimovi. "With Pimovi, we are building a proprietary
technology platform for digital media, and it is key that this
content will be readily accessible for our consumers. Along with
Chancellor Group's solid cash position, we are looking to forward
to launching revenue producing products powered by Mimvi as the
back-end architecture."
ABOUT PIMOVI
Pimovi Inc. is a newly formed technology subsidiary that is part
of Chancellor Group, Inc. (OTCBB: CHAG). It is developing a
proprietary technology platform for pictures, movies and videos.
Pimovi's primary focus lies in the creation of new methods for
recording activities, along with editing and assembling such
records in a proprietary format, including First Person Video Feeds
for sporting and other events.
ABOUT MIMVI
Headquartered in Sunnyvale, California, Mimvi, Inc. is the
premier mobile search and discovery technology provider. Its
proprietary search and "intelligent" recommendation algorithms
enable the search and discovery of Mobile Apps, Mobile Content and
Mobile Products across multiple devices and platforms, including:
Apple's iPhone and iPad, Google Android, BlackBerry, Windows Phone,
Facebook and web applications. For more information, please visit:
http://www.mimvi.com.
Products or service names mentioned herein are the trademarks of
their respective owners.
Safe Harbor Statement:
This Media release contains statements which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Chancellor Group, Inc., and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation
to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
Contact: Investor Kevin Fickle President NUWA Group LLC
Tel: +1-925-330-8315 Email: kevin@nuwagroup.com
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