September 18, 2015 - VANCOUVER, BRITISH COLUMBIA – Mobio Technologies Inc. (TSXV: MBO; OTCQX: MBIOF),, (“Mobio” or the “Company”) is pleased to announce that it has completed the acquisition of Twenty Year Media Corp. (“Twenty Year Media”), a Canadian-based company, with offices in Vancouver and New York, that provides media content distribution using data and social media analysis together with seamless digital delivery to multiple platforms, including its network of movie theatres across North America.
“We are extremely pleased to add Twenty Year Media to the Mobio portfolio. Twenty Year Media is poised for tremendous growth in 2016 due to the expansion of its distribution network and the use of new technology platforms, including the Strutta API platform, to drive fan engagement, increased ticket sales and revenues”, commented Mobio CEO Mike Edwards.
Under the terms of the transaction, Mobio has acquired approximately 72.9% of the issued and outstanding share capital of Twenty Year Media. The remainder of Twenty Year Media’s issued and outstanding shares, representing approximately 27.1%, are subject to redemption agreements, pursuant to which the underlying shareholders will remain the registered holders of those shares until Mobio exercises its right to redeem those shares on specified terms. The redemption agreements also provide Mobio with full voting rights and control of Twenty Year Media.
In consideration for the acquisition of Twenty Year Media, Mobio has committed to issue 20,000,000 common shares of Mobio. Upon closing, Mobio issued 14,573,165 shares, and the balance of 5,426,835 shares are due and owing on exercise of the rights granted under the redemption agreements. Up to an additional 20,000,000 common shares are issuable by Mobio as certain revenue-based milestones are achieved. All securities issued in connection with the acquisition are subject to a four-month-and-a-day hold period from the date of issue.
During the past three months, Twenty Year Media has released multiple high-profile films using its proprietary social intelligence and data analysis technology. In collaboration with industry leading partners like Sony Pictures, the Weinstein Company, IFC Films, Magnolia Pictures, and many others, Twenty Year Media identifies audience demand and amplifies fan engagement through its WannaWatch.it consumer platform and delivers films digitally through its Emerging Pictures network.
In June, Twenty Year Media partnered with Vimeo Inc., one of the world’s largest online video sites, on the release of SOAKED IN BLEACH through its Emerging Pictures digital delivery network. The exclusive release opened in the US and Canada, garnering extensive media attention for its in-depth look at the death of the famed rocker Kurt Cobain. Twenty Year Media’s advanced analysis tools identified local demand and worked with exhibitors to screen the film at optimal times to maximize box office performance. SOAKED IN BLEACH was the first in a series of planned co-releases with Vimeo.
July saw Twenty Year Media partner with Virgil Films and Network Entertainment on the release of the critically acclaimed documentary, I AM CHRIS FARLEY. Through its proprietary social media monitoring tools, Twenty Year Media’s system detected audience demand for the movie across the Emerging Pictures network and utilized the dynamic capabilities of its delivery and booking systems to release the film as widely as possible.
In August, Twenty Year Media released its new film festival module in conjunction with one of North America’s largest Latin American Film Festivals. Thousands of moviegoers utilized both the desktop and mobile applications to browse listings and purchase tickets. Social marketing and digital retargeting tools helped increase ticket sales to make this year’s festival one of the largest in its 13-year history. The film festival module will be expanding to film festivals throughout North America over the next year. The module utilizes social dynamics and integrated marketing tools to create an efficient promotional system and user focused experience.
September will feature the rollout of WannaWatch.it’s fan engagement tool for theatres, FanVoice, that empowers exhibitors to connect with their audience in a high value way, increasing revenue through social media and content selection. The rollout begins with a flagship theatre in Los Angeles, CA, to be followed with additional markets across the US and Canada. Other highlights from the past three months include films released through the Emerging Pictures network: LOVE & MERCY, the captivating exploration of the Beach Boys’ Brian Wilson; Robin Williams’ last movie, BOULEVARD; and the Magnolia Pictures documentary WOLFPACK.
The acquisition of Twenty Year Media constitutes a “related party transaction” pursuant to the provisions of Multilateral Instrument 61-101 (“MI 61-101”). Pursuant to MI 61-101, the Company has relied upon exemptions from the requirement to obtain a formal valuation and minority shareholder approval.
Mobio is a publicly traded company on the TSX-V and the OTCQX, headquartered in Vancouver, BC. Mobio is the parent company to Strutta and Twenty Year Media. Strutta is a social promotions platform that helps marketers bring potential customers from stranger to fan to customer, and Strutta’s Promotions API provides a technology platform that facilitates social media competitions & campaigns for global brands. Twenty Year Media is a media and technology company developing advanced technologies for the entertainment and motion picture sector. Twenty Year Media owns and operates Emerging Pictures, a US-based all-digital film and alternative content distribution network. Using data and social media analysis together with seamless digital delivery to theaters, Emerging Pictures enables content owners and exhibitors to be more effective and innovative in their distribution strategies and programming decisions. Emerging Pictures works with content and data partners such as Sony Pictures Classics, The Weinstein Company, Magnolia Pictures, IFC Films, and Vimeo to maximize the value of their content. For more information visit http://www.mobio.net.
For additional information contact: Etienne Moshevich Transcend Resource Group, Investor Relations Tel: 604-681-0084 firstname.lastname@example.org
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Mobio are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Mobio are those risks described herein and from time to time, in the filings made by Mobio with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulatory 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.