SAN DIEGO, CA / ACCESSWIRE / November 24, 2022 / Live Current Media, Inc. (“Live Stream”) (OTCQB:LIVC) announces that it has completed the acquisition of Guru Experience Co, Inc. (dba TheGuru.co) (“Guru”) of San Diego in an all-stock transaction.
Under the terms of the acquisition agreement, Live Current has agreed to issue 3 million shares of restricted common stock to Guru stockholders in exchange for all issued and outstanding shares of Guru. In addition to the stock swap, the Company has arranged to issue 1.25 million shares of restricted common stock to retain key executives, and Guru’s current CEO, Suzie Dergham, has agreed to a contractual agreement to continue its efforts in building of the Guru experience.
“I am delighted that our agreement has been ratified and we can now focus on accelerating Guru’s growth,” said Ms Dergham. “We have a fantastic plan lined up for 2023 and being a part of Live Current will help us deliver on that plan.”
“Guru’s revenue has grown at a double-digit pace over the past two years and we believe that with the additional experience Live Current provides, we can add to that growth over the next few years,” Ollila said. surface area of potential growth available on the market. And it’s an exciting market when you consider the power of AR and VR to tell the stories Guru’s customers will demand.”
Guru operates in the virtual reality market. The global virtual reality market is valued at $28 billion and is projected to expand at a compound annual growth rate of 15% from 2022 to 2030, reaching a value of $87 billion in 2030.
Guru Experience Co. offers museums and cultural sites a complete digital experience platform.
Guru creates a bridge between cultural institutions and 21st century audiences. Museums have connected people to art and culture for centuries. Guru works with museum, zoo and aquarium partners to not only enhance the visitor experience, but also to provide digital strategies to achieve the institutions’ educational and financial goals.
The company offers a user-friendly platform that makes it easier and faster to create, share, update and manage digital experiences. These include audio tours, augmented reality, wayfinding, geolocated content, interactive maps, games, scavenger hunts, ticketing and queuing.
About Live Current Media Inc.
Live Current Media Inc. is a media technology company that operates the Kast Watch Party platform. Kast is a virtual living room where friends gather to watch movies, play games and hang out. Kast sits at the intersection of the rapidly growing live event, social media, video streaming, and gaming markets with its multi-channel watch party solution. The platform is available on web, iOS and Android and offers a limited free subscription service and an enhanced premium subscription with more bandwidth and more features.
On behalf of the board of directors of Live Current Media Inc.
Mark Ollila, managing director and director
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All statements contained in this press release that are not statements of historical fact are forward-looking statements, including any projections of growth, earnings, revenue, cash or other financial items, any statements of management’s plans, strategies, goals and objectives for the future transactions, any statements regarding future economic conditions or performance, statements of belief, and any statements of assumptions underlying the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, general economic conditions, particularly in relation to demand for our products and services; competitive factors; changes in operating expenses; our ability to raise capital as and when we need it; and other factors. Live Current Media, Inc. undertakes no obligation to update these forward-looking statements to reflect future events or actual results and does not intend to do so.
SOURCE: Live Current Media Inc.
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