VANCOUVER, British Columbia, August 04, 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 Digital Cinema United Holding Ltd. (“DCU”), which provides content supply chain technology and services supporting independent intellectual property (IP) owners, producers, sales agents, alternative content distributors, downstream media and studios. Under the letter of intent, Liquid would acquire DCU for up to 3,750,000 shares, and DCU must earn revenues totaling more than US $ 15 million to trigger two of the three equal tranches. Additional liquidity will be invested in DCU’s ongoing operations, starting with the immediate availability of a secured bridge loan in the amount of $ 1.15 million, to be used for working capital and growth of its businesses. activities.
Supporting the big picture from content source file creation to distribution, DCU’s supply chain offers a full suite of primary asset creation services to present video, audio and stream files. data with impeccable clarity. DCU creates localized deliverables to ensure international delivery, provides best practice hybrid solutions for content execution in over 40 countries and offers cinema and downstream services under one roof with deliveries to the majority of providers of digital platforms around the world.
“We are excited to add DCU as an integral component of our four-step business solutions engine, bringing vital next-generation technology that puts independent intellectual property creators of all sizes and types on a solid footing.” equality with major studios in all production, international maintenance, as well as theatrical and digital distribution, ”said Ron Thomson, CEO of Liquid Media.
“DCU is thrilled to join the Liquid Media ecosystem. Liquid’s vision is aligned with our ambitions and having a multiple suite of tools and services that provide innovative solutions for the future of content distribution is exactly what our industry needs, ”said Alan Christensen , CEO of Digital Cinema United. “DCU provides an incredibly scalable architecture that is highly utilized and well integrated across multiple levels of the supply chain. We look forward to channeling more areas of content flow and bringing added value to our customers and exhibition partners. “
End-to-end excellence for supply chain services
In production services, DCU works with owners and producers of intellectual property to create the core content source files that form the fundamental backbone of global distribution deliverables.
The next step in the technology supply chain covers global service, as DCU works with international sales agents to ensure that delivery schedules are in line with distributors’ expectations before beginning the process of building assets for the product. delivery. DCU provides versioning of the Digital Cinema Package (DCP) with full localization, home video hardware, broadcast deliverables, and all digital distribution files that meet up-to-date specification sheets for all different content platforms. The DCP file format is the name given to the collection of digital files sent to a cinema or streaming platform.
DCU Distribution leverages a trusted global network with eDelivery to manage distribution in over 40 countries across North America, Latin America, Australia, New Zealand, Europe, Middle East and Africa . This link in the supply chain allows studios, mini-majors and majors to consolidate distribution in different territories via an extensive network while simultaneously providing local DCP service solutions to independent distributors in each territory.
The final piece of DCU’s content supply chain is comprised of digital and downstream distribution services. DCU’s home entertainment division has created, encoded and delivered thousands of DVD, Blu-ray and VOD titles for customers of major retail chains as well as iTunes, Amazon, Google Play, Hulu and many other platforms. digital.
Thomson added, “We couldn’t be more proud of the cross-platform capabilities we are developing in the areas of intelligence and analytics, finance, technology and monetization, so that working intellectual property owners with Liquid have a professional and reliably managed solution to ensure sustainable growth. DCU will play a pivotal role in technology services and we are delighted to welcome them to the Liquid family of companies. “
The final terms of the acquisition will be negotiated and recorded in binding and final documents to be concluded at closing at the latest. Completion of the acquisition is subject to customary due diligence, documentation arrangements and all necessary share issuance requirements and approvals.
Digital Cinema United (DCU) is a global provider of technical content services for cinema, home entertainment and digital distribution platforms, with operations in Los Angeles, London, Malta, Prague and South Africa. DCU supports content distribution for Hollywood majors, independent studios, event cinema distributors and renowned content producers and owners worldwide through DCP production and DCP delivery services for feature films and tape – Film announcements in all cinemas in North America, Europe, the Middle East and Africa, Australia and New Zealand. DCU also provides international service with worldwide location and direct delivery to video on demand (VOD) streaming platforms. DCU operates Trusted Partner Network (TPN) certified facilities in all of its regions.
Further information is available at https://digitalcinemaunited.com/.
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.
Further information is available at www.LiquidMediaGroup.co.
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Caution Regarding Forward-Looking Statements
This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are generally identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those which , by their nature, refer to future events. These forward-looking statements include, without limitation, that the Company will be able to complete the acquisition of Digital Cinema United (DCU) and that DCU will continue to increase its revenues. These statements should not be interpreted as guarantees of future performance or results. In addition, these statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those implied by such statements. These factors include, but are not limited to: developments related to the COVID-19 pandemic, regulatory measures, market prices, continued availability of capital and financing, and general economic, market conditions or business. Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the management of the Company on the date the statements are made. The Company has no obligation and expressly disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. .