TORONTO and VANCOUVER, British Columbia, March 12, 2019 (GLOBE NEWSWIRE) -- WOW! Unlimited Media Inc. (the "Company" or "WOW!") (TSXV: WOW) announces the extension of the date upon which Bell Media Inc. (“Bell Media”) will transfer to WOW! Unlimited Networks Inc. ("WOW! Networks"), a wholly-owned subsidiary of the Company, the Category B specialty service (the "Broadcasting Licence") that will enable the Company to pursue sponsorships and partnerships to support the launch of the anticipated WOW! branded service.
As agreed among the parties, the last date upon which WOW! Networks will be entitled to exercise, and if not exercised by such date will be deemed to have exercised, the exclusive option to acquire the Broadcasting Licence has been extended to May 31, 2019, and the last date upon which the transfer of the Broadcasting License will occur has been extended to August 30, 2019; provided that, at any time before June 30, 2019, Bell Media may set the date of transfer upon 60 days’ written notice.
About WOW!
WOW! is creating a leading next-generation kids and youth animation business by focusing on digital platforms and content. The Company’s key assets include: the world's No. 1 digital animation network, Frederator Networks, which consists of an animation production company Frederator Studios, as well as video on demand channels on digital platforms, and one of Canada's largest, multifaceted animation production studios, Mainframe Studios.
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Website: www.wowunlimited.co
Forward-looking Statements
This release contains forward-looking statements under applicable Canadian securities legislation that are not based on historical facts, including, without limitation, statements containing the words "believe", "may”, “plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential" and similar expressions.
Forward-looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements in this release include but are not limited to statements relating to the Option Date and the Conveyance Date. Such statements reflect management of the Company's current views with respect to future events and are subject to risks and uncertainties and are necessarily based on a number of estimates and assumptions that, while considered reasonable by WOW!, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward-looking statements included in this release, the Company has made various material assumptions, including, but not limited to general business and economic conditions, the Company's ability to protect its intellectual property, the Company's ability to raise additional funding, the Company’s ability to procure third-party distribution, sponsorships and/or partnerships, existing governmental regulations and changes in, or the failure to comply with, CRTC and other governmental regulations and changes in business strategy or development plans. In evaluating forward-looking statements, current and prospective shareholders should specifically consider various factors set out under the heading "Risk Factors" in the Company's Annual Information Form dated April 27, 2018 and in the Company's management discussion and analysis in respect of WOW! fiscal year ended December 31, 2017, copies of which are available on the Company’s profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on WOW!'s SEDAR profile.
Should one or more of these risks or uncertainties, or a risk that is not currently known to us, materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.
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.