OOOOO Announces Issuance of First Installment Payment Shares Under Services Agreement with AGORACOM

Rhea-AI Summary

OOOOO Entertainment Commerce Limited (OOOO:TSXV, OOOOF:OTCQB) has received conditional approval from the TSX Venture Exchange for its online marketing agreement with AGORACOM. As part of this agreement, OOOOO has issued 43,750 common shares at a price of $0.48 per share, totaling an initial payment of $20,000. The company’s platform enables retailers and brands to interact directly with consumers through live shoppable videos, integrating gamification and social features to enhance user engagement.

Positive

• Conditional approval from TSX Venture Exchange strengthens business operations.
• Issuance of shares reflects financial commitment to AGORACOM marketing services.

Negative

• Potential dilution of existing shareholders due to share issuance.
• Reliance on the success of the marketing agreement for future growth.

VANCOUVER, British Columbia, Jan. 21, 2022 (GLOBE NEWSWIRE) -- OOOOO Entertainment Commerce Limited (“OOOOO”) (OOOO:TSXV, OOOOF:OTCQB), a mobile commerce platform, is pleased to announce that further to its news release on January 17, 2022, the Company has now received conditional approval from the TSX Venture Exchange (“TSXV”) to the online marketing agreement with AGORACOM.

In connection with the services provided by AGORACOM, the Company has issued 43,750 common shares of the Company at a deemed price of $0.48 per share to AGORACOM as the first installment payment of $20,000 plus applicable taxes.

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.

For further information please contact:

OOOOO Entertainment Commerce Limited

Samuel Jones Chief Executive Officer	Investor Relations
604.265.0771	416.842.9003
sam@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.

Source : OOOOO

FAQ

What approval did OOOOO Entertainment Commerce receive on January 21, 2022?

On January 21, 2022, OOOOO Entertainment Commerce received conditional approval from the TSX Venture Exchange for its online marketing agreement with AGORACOM.

What was the financial impact of the agreement with AGORACOM?

As part of the agreement, OOOOO issued 43,750 common shares at $0.48 per share, representing an initial payment of $20,000.

How does OOOOO Entertainment Commerce engage consumers?

OOOOO Entertainment Commerce engages consumers through its mobile commerce platform, which allows retailers and brands to share product opinions via interactive shoppable videos.

What are the risks associated with OOOOO's forward-looking statements?

Risks include potential disruptions in product delivery, failure to meet regulatory requirements, and economic downturns that could affect future performance.