NEW
YORK, Nov. 1, 2023 /CNW/ - MiMedia Holdings
Ltd. (TSXV: MIM) ("MiMedia", "Company") is
pleased to announce a signed global Distribution Agreement (the
"Agreement") with KMG
Fueguina ("KMG").
KMG is an Argentina based
manufacturer of cameras, TVs, and smartphones, with distribution
channels throughout Latin America. KMG has strategic
alliances with JK Imaging Ltd., which holds a license for the Kodak
brand, and Asia Optical, a manufacturer of electronic components
for the technology industry. KMG's headquarters reside in
Buenos Aires, with representation
in Miami, and a company plant in
Río Grande (province of Tierra del Fuego) that has the capacity to
manufacture more than 20 different types of products
simultaneously.
MiMedia is a next generation consumer cloud platform that
partners with smartphone makers and telecom carriers globally to
provide their consumers with a unique personal cloud experience
that enables all types of personal media to be secured in the
cloud, accessed seamlessly, across all devices and operating
systems and at any time.
As part of the multi-year Agreement, MiMedia will initially
integrate its platform directly onto one million smartphones under
the Kodak brand. MiMedia's consumer cloud platform will
provide KMG with a churn-reducing product, deliver immediate market
differentiation and enable multiple high-margin and recurring
revenue streams. Integration onto KMG devices will occur
faster than ever due to recent technology gains made by the MiMedia
team.
"We are thrilled to partner with KMG, a well respected, proven,
and leading device manufacturer in Argentina. KMG makes great
smartphones for the large Argentine market, and we are looking
forward to bringing MiMedia's best-in-class consumer cloud platform
and its important value proposition to KMG's consumers. With
recent technology advancements made by our team, we are also
excited to be able to integrate quickly onto a large portion of the
KMG devices, which will have an immediate impact to our business
model. This partnership represents another win with a highly
respected local leader and our first in the southern cone of LATAM,
further deepening our market share and brand across this important
region and large market", said Chris
Giordano, CEO of MiMedia.
About KMG Fueguina: KMG Fueguina is an Argentine
manufacturer of cameras (compact, bridge, action cams and smart
lenses), TVs, and smartphones. The firm has strategic alliances
with JK Imaging Ltd., which holds a license for the Kodak brand,
and Asia Optical, a manufacturer of electronic components for the
technology industry. The company's plant is in Río Grande, province
of Tierra del Fuego and has the capacity to manufacture more than
20 different types of products simultaneously.
About MiMedia: MiMedia Holdings Inc provides a
next-generation consumer cloud platform that enables all types of
personal media to be secured in the cloud, accessed seamlessly at
any time, across all devices and on all operating systems. The
company's platform differentiates with its rich media experience,
robust organization tools, private sharing capabilities and
features that drive content re-engagement. MiMedia partners with
smartphone makers and telecom carriers globally and provides its
partners with recurring revenue streams, improved customer
retention and market differentiation. The platform services
millions of engaged users around the world.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding MiMedia,
and their respective businesses, which may include, but is not
limited to, statements with respect to the completion of a
Transaction, appointment or any other decision made by the
business. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "is expected",
"expects", "scheduled", "intends", "contemplates", "anticipates",
"believes", "proposes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Such statements are based on
the current expectations of the management of MiMedia. The
for-ward-looking events and circumstances discussed in this
release, may not occur by certain specified dates or at all and
could differ materially as a result of known and unknown risk
factors and uncertainties affecting the companies, including risks
regarding the MiMedia industry, failure to obtain regulatory or
shareholder approvals, economic factors, the equity markets
generally and risks associated with growth and competition.
Although MiMedia have attempted to identify important factors that
could cause actual actions, events, or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events, or results to differ from
those anticipated, estimated or intended. No forward-looking
statement can be guaranteed. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and MiMedia undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
SOURCE MiMedia