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 curated
platform of content recommendations, including quality movies, TV
series and TV shows. Under the terms of the LOI, Liquid would
acquire iGEMStv (“iGEMS”) for up to 566,667 shares, and iGEMStv
must achieve revenues totalling over US$9.5M to trigger three of
the four equal tranches.
iGEMS is the ultimate internet guide to engaging
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
where they can find it. In addition to the traditional genre and
trending carousels, iGEMS differentiates itself from other guides
by including recommendations of movies and series not found in the
massive libraries of the larger streaming platforms, and movie and
TV collections curated especially for their users, from a trusted
guide with years of curation experience. In addition, they
recommend gems on Filmocracy and titles playing exclusively on
niche platforms, including projects still on the film festival
circuit.
“We look forward to welcoming iGEMS into the
Liquid business family. Their unique blend of machine learning,
human curation and deep experience in the space drives content
discoverability for consumer audiences seeking the very best
content in all genres. At the same time, iGEMS would become yet
another channel to help IP owners working with Liquid reach a wider
audience,” said Liquid CEO Ron Thomson.
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 movie and series binge. Viewers can also have
Dashboards with profiles to track their watchlists, ratings and
reviews, while sharing with other fans.
“As streaming content choices continue to
expand, iGEMS is excited to be providing a valuable solution,
anchored by human curation, to connect audiences to engaging
content on the myriad of platforms coming to market,” says 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 and podcast content. The Film Festival Mastery course
has become an industry leader, helping filmmakers navigate the film
festival circuit; and The Mine provides an ongoing blog report,
taking a deeper dive into the independent film sector.
The iGEMSpro Directory was just recently
launched, providing filmmakers with sales opportunities, and serves
as a platform of discovery for acquisitions executives, as well as
festival programmers. Highlights from the Directory will be tracked
and eventually find their way to the film fans on the iGEMS
side.
“With thousands of independent films coming off
the film festival circuit seeking sales opportunities, there is a
tremendous need for exposure in the marketplace, from international
buyers to the growing list of streaming platforms,” says
Fitzgerald. “We are proud to be providing filmmakers with the tools
and support to reach these important buyer audiences
worldwide.”
Added Thomson, “Jon’s knowledge of film,
television and the festival space are practically encyclopedic. We
look forward to welcoming him to the Liquid team.”
Under the terms of the LOI, Liquid proposes to
acquire iGEMS for a total of up to 566,667 common shares of Liquid,
which would be paid out to iGEMS investors across specific
performance milestones in four equal tranches of 141,667 common
shares each (the “Consideration Shares”). The first tranche of
Consideration Shares would be payable upon closing, with three
remaining milestones triggered by iGEMStv revenues totalling
US$9.5M in the years ahead. Additional cash would be invested in
iGEMS’ ongoing operations, beginning with immediate availability of
a secured bridge loan in the amount of US$100K, to be applied
towards working capital, technology infrastructure and
marketing.
Final terms of the acquisition will be
negotiated and memorialized in binding and definitive documentation
to be entered into at or prior to closing. Completion of the
acquisition is subject to customary due diligence, documentation
provisions and any necessary share issuance requirements and
approvals.
About iGEMStv
With the growing volume of Movie and TV Series
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 where they can find
it. They put out a weekly newsletter with iGEMSelections, sent to
over 5,000 subscribers. iGEMSpro provides resources to the
independent film space, aggregating news articles, podcasts and
videos, while providing reports, affiliate discounts and online
courses to support independent filmmakers. The iGEMSpro Directory
is a sales platform for independent films to generate sales in the
international marketplace.
Additional information is available at
www.igems.tv
About Liquid Media Group
Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is a
business-solutions company empowering independent IP creators.
Liquid’s end-to-end solution will enable professional video
(film/TV and video game) creation, packaging, financing, delivery,
and monetization, empowering IP creators to take their professional
content from inception through the entire process to monetization.
The new Liquid Media Token Strategy will empower its users to
capitalize and monetize all four pillars of IP: Creation,
Use/Subscription, Financing, and Licensing/Protection.
Additional information is available at
www.LiquidMediaGroup.co.
Further information:
Primoris Group+1 (416)
489-0092pg@liquidmediagroup.co
Media requests:
Investor / BusinessAdam
BelloMedia & Analyst Relations ManagerPrimoris Group Inc.+1
(416) 489-0092 x 226media@primorisgroup.com
IndustryJane OwenJane Owen PR+1
(323) 819-1122 jane@janeowenpr.com
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