Bringing together video streaming, mobile gaming and social media.
San Diego, CA, April 26, 2022, Live CurrentMedia, Inc. (“Live Current” or the “Company”) (OTCQB: LIVC) announces that it has completed its merger (the “Merger”) with Evasyst Inc.(“Evasyst”) of San Diego in an all share transaction. Evasyst owns and operates the Kast online, social, watch party platform.
Kast is an online, social, watch party platform and community where friends gather to watch videos, play games, and be together. According to Grandview Research, the global video streaming market is expected to grow at a compound annual growth rate(CAGR) of 21.3% between 2022 and 2030. The Kast platform empowers individuals to live-share synchronized video, engage and collaborate within the community and build relationships with like-minded people.
Pursuant to the merger plan, the Company has issued 125 million common shares to the existing shareholders of Evasyst to purchase 100% of the outstanding shares. On closing, David Jeffs resigned as CEO and Mark Ollila, CEO of Evasyst, was appointed CEO and Chairman of the board of LiveCurrent. Mr. Ollila has over twenty years of experience in the games and media technology industry previously with senior roles at Nokia and Microsoft, including leading Nokia First Party Games Publishing.
“We’ve brought together an incredible project, great people and a recently completed capital injection that makes for a very exciting time for everyone involved including our shareholders,” said Mr. Ollila. “The video streaming space is growing rapidly, the mobile games sector is growing rapidly, the social media sector is growing rapidly. We’re at the beginning of what promises to be a remarkable journey and I’m very excited about the new product releases we have coming out in the near future.”
In addition to Mr. Ollila, the new board of directors is comprised of the following members; Heidi Steiger, Leslie S. Klinger, Justin Weissberg, Annamaria Rapakko and David Jeffs who will maintain his previously held position on the board. The new board brings a wealth of experience in the legal, financial and gaming sectors and corporate governance to the Company and will be relied on heavily moving forward. John DaCosta and Amir Vahabzadeh have resigned from the board effective April 22, 2022 and the Company thanks them for their contributions over the past 5 years.
Joining Mr. Ollila on the management team are Steve Smith assuming the role of CFO and David Jeffs continuing on in his previously held roles as President and Secretary.
About Live Current Media Inc.
Live Current (“LIVC”) is a media technology company involved in the video streaming, social media and mobile games industries.The Company’s portfolio currently consists of three complimentary projects, the Kast online watch party, the SPRT MTRX gaming app (App Store and Play Store: SPRT MTRX) and the Trivia Matrix game app (App Store and Play Store: Trivia Matrix).
On behalf of the board of directors of Live Current Media Inc.
Mark Ollila, CEO & Director
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