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SAN DIEGO, CA / ACCESSWIRE / November 24, 2022 / Live Current Media, Inc. (“live stream”) (OTCQB:LIVC) announces that the acquisition of is complete Guru Experience Co, Inc. (dba TheGuru.co) (“Guru”) of San Diego in an all stock transaction.
Under the terms of the acquisition agreement, Live Current has agreed to issue 3 million restricted common shares to Guru shareholders in exchange for all of the issued and outstanding shares of Guru. In addition to the share swap, the Company has arranged for the issuance of 1.25 million restricted common shares to retain key management, and Guru’s current CEO, Suzie Dergham, has agreed to a contractual arrangement to continue her efforts to build the Guru experience.
“I am pleased that our agreement has been ratified and we can now focus on accelerating Guru’s growth,” said Ms. Dergham. “We have an amazing plan in place for 2023 and being a part of Live Current will help us deliver on that plan.”
“Guru’s revenue has grown at double digits over the past several years and we believe that with the added experience of Live Current we can leverage that growth for years to come,” said Mr. Ollila. “To date, Guru has scratched the surface of the growth potential available in the market. And it’s an exciting market considering the possibilities of AR and VR to tell the stories that customers will demand from Guru.”
Guru operates in the virtual reality market. The global virtual reality market is valued at US$28 billion and is expected to grow at a CAGR of 15% from 2022 to 2030, reaching a value of US$87 billion in 2030.
Guru Experience Co. offers museums and cultural sites a comprehensive digital experience platform.
Guru bridges cultural institutions and 21st century audiences. Museums have connected people with art and culture for centuries. Guru works with museum, zoo, and aquarium partners to not only improve the visitor experience, but also to provide digital strategies to meet institutions’ educational and financial goals.
The company offers an easy-to-use platform that makes creating, sharing, updating and maintaining digital experiences quick and easy. These include audio tours, augmented reality, wayfinding, geolocated content, interactive maps, games, scavenger hunts, ticketing and queues.
About Live Current Media Inc.
Live Current Media Inc. is a media technology company that operates the Kast Watch Party platform. Kast is a virtual living room where friends gather to watch movies, play games and be together. Kast is at the intersection of the fast-growing markets of live events, social media, video streaming and gaming with its multi-channel watch party solution. The platform is available on web, iOS and Android and offers a limited free subscription service and an extended premium subscription with higher bandwidth and greater functionality.
On behalf of the board of directors of Live Current Media Inc.
Mark Ollila, CEO and Director
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All statements in this press release that are not statements of historical fact are forward-looking statements, including projections of growth, earnings, sales, cash or other financial items, statements of management’s plans, strategies, goals and objectives for future operations, statements future economic conditions or performance, beliefs and assumptions underlying the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among other things, general economic conditions, particularly those relating to demand for our products and services; competitive factors; changes in operating costs; our ability to raise capital whenever we need it and other factors. Live Current Media, Inc. assumes no obligation, and does not intend to, update these forward-looking statements to reflect future events or actual results.
SOURCE: LiveCurrent Media Inc.
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