Liquid Media Group announces letter of intent to acquire
VANCOUVER, British Columbia, June 09, 2021 (GLOBE NEWSWIRE) – Liquid Media Group Ltd. (“The Company”, “Liquid Media” or “Liquid”) (Nasdaq: YVR) today announced the signing of a Letter of Intent (the “LOI”) to acquire iGEMStv, Inc. which provides a platform -Organized form of content recommendations, including quality movies, TV series and TV shows. Under the letter of intent, Liquid would acquire iGEMStv (“iGEMS”) for up to 566,667 shares, and iGEMStv must achieve revenues totaling more than US $ 9.5 million to trigger three of the four equal tranches.
iGEMS is the ultimate internet guide to compelling movies and series, with 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 or they can find it. In addition to the traditional genre and trending carousels, iGEMS differentiates itself from other guides by including recommendations for movies and series not found in the massive libraries of the biggest streaming platforms, and collections of movies and TV series specially designed for their users. users, from a trusted guide. with years of experience in curation. In addition, they recommend gems on Filmocracy and titles released exclusively on niche platforms, including projects still on the film festival circuit.
“We look forward to welcoming iGEMS to the Liquid family of companies. Their unique blend of machine learning, human curation and deep experience in the space promotes content discovery for a consumer audience looking for the best content across all genres. At the same time, iGEMS would become another channel to help IP owners working with Liquid reach a wider audience, ”said Ron Thomson, CEO of Liquid.
The iGEMS platform offers advanced search tools, allowing users to search by genre, category, emoji or mood. Audiences can select multiple age and genre categories to find the right fit for their frenzy of movies and series. Viewers can also have dashboards with profiles to track their watchlists, ratings, and reviews, while sharing with other fans.
“As the choices for streaming content continue to expand, iGEMS is excited to provide a valuable solution, anchored in human curation, to connect audiences to engaging content on the myriad of platforms coming to market.” , said Jon Fitzgerald, Founder and CEO of iGEMS.
In 2020, iGEMSpro was introduced as a solution for filmmakers, film festivals and industry professionals, offering educational resources, courses, industry reports and aggregated news, video content. and podcasts. Mastery of the film festival course has become an industry leader, helping filmmakers navigate the film festival circuit; and The mine provides an ongoing blog report, delving deeper into the independent film industry.
the IGEMSpro Directory was recently launched, providing filmmakers with sales opportunities, and serves as a discovery platform for acquisition managers, as well as festival programmers. The highlights of the repertoire will be tracked and eventually find their way to cinephiles on the iGEMS side.
“With thousands of independent films coming out of the film festival circuit in search of sales opportunities, there is a huge need for visibility in the market, from international buyers to the growing list of streaming platforms,” says Fitzgerald. “We pride ourselves on providing filmmakers with the tools and support to reach these important buyers around the world. “
Thomson added, “Jon’s knowledge of film, television and the festival space is practically encyclopedic. We look forward to welcoming him to the Liquid team.
Pursuant to the letter of intent, Liquid proposes to acquire iGEMS for a total of 566,667 common shares of Liquid, which would be paid to iGEMS investors through specific performance milestones in four equal tranches of 141,667 common shares. each (the “Counterpart Shares”). The first tranche of matching shares would be payable at closing, with the remaining three milestones triggered by iGEMStv’s income totaling US $ 9.5 million in future years. Additional liquidity would be invested in the ongoing operations of iGEMS, starting with the immediate availability of a secured bridge loan in the amount of USD 100,000, to be allocated to working capital, technology infrastructure and marketing.
The final terms of the acquisition will be negotiated and recorded in binding and final documents to be concluded no later than closing. Completion of the acquisition is subject to customary due diligence, documentation arrangements and all requirements and approvals necessary for the issuance of shares.
With the growing volume of movie and TV 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 or they can find it. They published a weekly newsletter with iGEMSelections, sent to over 5,000 subscribers. iGEMSpro provides resources to the independent film space, bringing together news articles, podcasts and videos, while offering reports, affiliate discounts and online courses to support independent filmmakers. The iGEMSpro directory is an independent film sales platform to generate sales on the international market.
Further information is available at www.igems.tv
About Liquid Media Group Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is a business solutions company that empowers independent intellectual property creators. Liquid’s end-to-end solution will enable the creation, packaging, funding, delivery and monetization of professional videos (film / television and video games), enabling IP creators to take their professional content from creation. through the whole process up to monetization. The new Liquid Media Token strategy will allow its users to capitalize and monetize the four pillars of intellectual property: creation, use / subscription, funding and licensing / protection.
Further information is available at www.LiquidMediaGroup.co.
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