Vancouver, British Columbia–(Newsfile Corp. – July 25, 2022) – OOOOO Entertainment Commerce Limited (TSXV: OOOO) (OTCQB: OOOOF) (“OOOOO”), is pleased to announce that it has signed a license agreement with Shiller, Inc. (“Shiller”), a private technology company located in the US. Shiller is working to launch a live video and audio technology platform to enable the marketing of digital assets. One of Shiller’s co-founders is an American music artist, media personality and entrepreneur.
Pursuant to the licence agreement and in exchange for a 20% equity interest in Shiller, OOOOO has agreed to grant a perpetual, royalty-free, worldwide license to Shiller over OOOOO’s software for the purposes of marketing the software on an exclusive basis, in its field of business.
Shiller is currently in “stealth mode” and expects to launch later in 2022. Additional details on its business and operations will be provided in the future as they become available.
In May 2022, OOOOO announced that it had signed a license agreement with The Taken Seat, a venture builder in the Middle East, to launch a video commerce platform in the region. The license was in exchange for a minority equity interest in Fourth Taken Holding Ltd, a private company incorporated under the laws of the Abu Dhabi Global Market.
About OOOOO Entertainment Commerce
OOOOO Entertainment Commerce operates a technology platform that enables retailers, brands and entrepreneurs to share product-based content directly to consumers through live, interactive, shoppable videos. The platform also offers gamification and social features which reward the community for helping to grow the user base, reducing the need for traditional ad networks. The Company was founded in 2020 by Sam Jones (previously with Wish.com), and Eric Zhang (previously with Musical.ly and Tiktok). The company have offices in the UK and China.
For further information please contact:
OOOOO Entertainment Commerce Limited
Co-founder / CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Information
Certain statements in this news release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that OOOOO expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of OOOOO’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of OOOOO or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding: growth and future prospects of our business, including in Brazil with B2W; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; and expectations regarding the operation of our app. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers, the success of the business of our partners and the general market adoption of our technology. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those relating to potential disruptions to product delivery; failure to meet regulatory requirements; adoption of the software in Brazil; potential downturns in economic conditions; availability of financing (as necessary); and other risk factors described in our Filing Statement which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and OOOOO undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131763
Powered by WPeMatico