VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) -- OOOOO Entertainment Commerce Limited (“OOOOO” or the “Company”) (OOOO:TSXV), a mobile commerce platform, is pleased to announce that the Company has filed its unaudited financial results for the three and nine-month period ended July 31, 2021 as well as for the period from incorporation on March 19, 2020 to July 31, 2020. Full details of these results can be found on SEDAR at www.sedar.com.
Select 2021 Business Highlights
- OOOOO’s app was the #1 downloaded free app in the UK on January 21, 2021 the Apple iOS App Store
- Raised CAD$15MM through a non-brokered private placement bringing in strategic partners and long-term investors
- Created a joint venture with Brazilian retail marketplace B2W, one of the largest online retail companies in Latin America and the first company to launch live e-commerce in Brazil in partnership with OOOOO
- Went public under the stock listing OOOO on the TSX Venture Exchange
- Partnered with JD Sports to launch live video commerce in the UK. JD Sports is a multi-billion-dollar company that has over 850 stores in 19 territories worldwide
- Partnered with other iconic brands in the UK including ISAWITFIRST, Ann Summers, and Missguided
- Hired Tom Judge as Chief Operating Officer
“These are our first earnings following completion of our qualifying transaction, and they were as we expected. As a disruptive technology company, we have seen significant growth in subscriber numbers and social media followers, not only in the UK but also our joint venture in Brazil with B2W. We are thankful to our new partners that joined the OOOOO platform, and we look forward to many more announcements in the near-term. The Company has been strategic in its partnerships as each is intended to allow OOOOO access into new geographical locations or move into a more diverse product line up. Thank you to the entire team at OOOOO and our partners. We look forward to sharing more exciting news in the weeks and months ahead and encourage investors to follow OOOOO closely as we work to announce new partners that embody "Best Connected,” commented Sam Jones, Chief Executive Officer OOOOO.
Please visit www.sedar.com for our latest financial filings.
About OOOOO Entertainment Commerce
OOOOO Entertainment Commerce operates a technology platform that enables retailers, brands and entrepreneurs to share product-based opinions directly to consumers through live, interactive, shoppable videos. The platform also offers gamification and social features which reward the community for helping to grow the user base, reducing the need for traditional ad networks.
The Company was founded in 2020 by Sam Jones and Eric Zhang and has offices in Oxford and Shanghai.
For further information please contact:
OOOOO Entertainment Commerce Limited
| Tom Judge, Chief Operating Officer | Investor Relations |
| 604.265.0771 | 416.842.9003 |
| tom@ooooo.com | investors@ooooo.com |
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION 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.
Forward Looking Information
Certain statements in this news release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that OOOOO expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of OOOOO’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of OOOOO or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding: growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those relating to potential disruptions to product delivery; failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; availability of financing (as necessary); and other risk factors described in our Filing Statement which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and OOOOO undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
