VANCOUVER, BC / ACCESSWIRE / November 19, 2018 / The Wonderfilm Media Corporation (TSX-V: WNDR), (OTC PINK: WDRFF), (FRA: 25Y), (“Wonderfilm” or “Company”) is pleased to announce the acquisition of Agatha Media Corp. (“Agatha”), a private arm’s length media company with exclusive rights to participate and receive net proceeds from advertising video on demand (“AVOD”) themed movie channels (“Movie Channel”) distributed directly to 50 million US homes via a leading internet retailer.
The acquisition immediately intensifies Wonderfilm’s vertical integration in the entertainment marketplace, affording the Company added content-creation centered revenue streams encompassing, production, distribution and for the first time direct broadcast to end users. Beyond adding a conduit from content creator to viewer, the Company is further designing new interactive fan experiences for the Movie Channel through Wonderfilm branded dedicated online Apps and AI technology.
“This is an amazing acquisition for Wonderfilm, immediately enhancing our ability to monetize content creation by opening up multiple new cash flow streams. The Movie Channel is also the latest milestone in Wonderfilm’s larger growth strategy. A plan that includes developing cutting-edge Apps to empower movie viewers through unparalleled levels of interaction as we create a truly integrated long-term fan experience that seamlessly incorporates broadcast, social media, production and eventually Blockchain funding. In business terms, the acquisition strengthens the Wonderfilm Team of producers’ market leverage as we continue to expand our brand in a highly competitive field,” commented Kirk Shaw, CEO of Wonderfilm.
Scheduled to reach 50 million homes at launch in mid 2019, all indications are strong for the Movie Channels to expand its footprint to 100 million homes by the end of the first year of broadcasting.
Through a share purchase agreement, Wonderfilm has acquire all the outstanding common shares of Agatha through the issuance 6,000,000 common shares of Wonderfilm at $0.60 per common share for total consideration of CAD$3,600,000. In compliance with the terms of the acquisition, the name of the internet retailer will be revealed in a subsequent press release upon the official launch of the Movie Channel.
Neither the TSX Venture Exchange Inc. (“Exchange”) nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Wonderfilm is a leading publicly traded entertainment company with offices in Beverly Hills, Vancouver, Canada and Seoul, South Korea. Wonderfilm’s main business is the production of high- quality feature films and episodic television that offer international appeal through the Company’s guiding philosophy of bringing new financing solutions to an entertainment industry increasingly looking for funding and co-production alternatives. Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm’s length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as “believe,” “expect,” “target,” “anticipate,” “forecast,” “intend,” “plan,” “projects,” “seek,” “will,” “may”, “indicate” or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm’s control and Wonderfilm’s actual results could well differ materially from those stated or implied in forward-looking statements due to several factors.
Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further details, please see the Company’s documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
For further information, please contact:
The Wonderfilm Media Corporation, Chief Executive Officer