Liquid Media Provides Corporate Update

Rhea-AI Summary

Liquid Media Group Ltd. (Nasdaq: YVR) has announced the resignation of Daniel Cruz from its Board of Directors, thanking him for his service while planning to continue a consultancy relationship. Additionally, the company disclosed that its letter of intent with CurrencyWorks Inc. has expired. Liquid Media is exploring opportunities to leverage blockchain technology and tokenization for entertainment financing and monetization, promising further updates in due course.

Positive

• Ongoing evaluation of blockchain technology for entertainment financing could open new revenue streams.

Negative

• Resignation of a board member may indicate potential instability in leadership.
• Expiry of the letter of intent with CurrencyWorks Inc. limits immediate strategic partnerships.

VANCOUVER, British Columbia, June 02, 2021 (GLOBE NEWSWIRE) -- Liquid Media Group Ltd. (the “Company”, “Liquid Media” or “Liquid”) (Nasdaq: YVR) announced today that it has accepted the resignation of Daniel Cruz from his positions on the Board of Directors of Liquid and its affiliates. The Company wishes to thank Mr. Cruz for his years of dedicated services to the Company’s board, and will continue to work with Mr. Cruz on a consultancy basis going forward.

Further to its press release of March 31, 2021, the Company also announces the expiry of its letter of intent with CurrencyWorks Inc. The Company will continue to evaluate and review the possible paths available to it to use blockchain technology and tokenisation (of which NFTs are an element) to provide a novel and durable element of entertainment financing and monetization, and will provide updates in respect of same in the ordinary course.

About Liquid Media Group Ltd.

Liquid Media Group Ltd. (Nasdaq: YVR) is a business solutions company empowering independent IP creators. Liquid’s end-to-end solution will enable professional video (film/TV and video game) creation, packaging, financing, delivery, and monetization, empowering IP creators to take their professional content from inception through the entire process to monetization.

Additional information is available at www.LiquidMediaGroup.co.

Further information:

Primoris Group
+1 (416) 489-0092
pg@liquidmediagroup.co

Media requests:
Investor:
Adam Bello
Media and Analyst Relations Manager
Primoris Group Inc.
+1 (416) 489-0092 x 226
media@primorisgroup.com

Industry:
Jane Owen
Jane Owen PR
+1 (323) 819-1122
jane@janeowenpr.com

Cautionary Note Regarding Forward-Looking Statements

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: developments related to the COVID-19 pandemic, regulatory actions, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

FAQ

What recent changes occurred in Liquid Media Group's Board of Directors?

Daniel Cruz resigned from the Board of Directors of Liquid Media Group as of June 2, 2021.

What is the significance of Daniel Cruz's resignation for YVR shareholders?

His resignation might impact leadership stability, which could affect investor confidence.

Why did Liquid Media Group announce the expiry of its letter of intent with CurrencyWorks?

The expiry indicates a pause in potential strategic partnerships involving blockchain technology.

How is Liquid Media Group planning to use blockchain technology?

The company is seeking to explore blockchain and tokenization for entertainment financing and monetization.