Vancouver, British Columbia, Canada, December 14, 2021, Live Current Media, Inc. (“Live Current”) (OTCQB: LIVC) announces that it has extended its non-binding letter of intent (“LOI”) to acquire Evasyst Inc. (dba Kast), (“Kast”) of SanDiego in an all-stock reverse takeover.
The LOI, dated September 14, 2021, lays out the terms of the proposed acquisition of Kast byLive Current and is set to expire on December 14, 2021. In light of the positive progress made towards closing the LOI, the parties have mutually agreed to extend the term to close the agreement by one month to January 14, 2022. All other terms of the LOI remain unchanged.
Kast is an online watch party platform for friends to watch videos, play games, and be together.The platform empowers individuals to live-share synchronized video, engage within the community, and build relationships with like-minded people. The Kast team consists of passionate individuals who hail from diverse backgrounds across the globe, coming from exciting and fast-paced industries such as esports, video streaming, entertainment, and video games.
Kast CEO and Co-founder Mark Ollila has over twenty years of experience in the games and media technology industry previously with senior roles at Nokia andMicrosoft, including leading Nokia First Party Games Publishing. He also served on the advisory board of the Game Developers Conference (Mobile) and, was aboard member of the EMEA Chapter of the Mobile Ecosystem Forum. He was Chairman of the Board of Physics Middleware provider Meqon Research AB (acquired by Ageia and then NVIDIA) and currently is on the board of Blind Squirrel Entertainment.
“This acquisition will speedup the growth of Live Current immensely,” said CEO David Jeffs. “Mr. Ollila and his team have put together a fantastic product in a rapidly growing sector that is almost certain to increase in popularity considering the current social climate.” Kast CEO Mark Ollila stated, “The synergies of the two companies are obvious as streaming and casual gaming are multibillion dollar industries that are growing, but also converging. This opportunity will create the foundation and platform to build a global media entertainment company.”
About Live Current Media Inc.
Live Current (“LIVC”) isa digital technology company involved in the entertainment industry. Currently developing two projects, SPRT MTRX (App Store and PlayStore: SPRT MTRX) and TriviaMatrix (App Store and PlayStore: Trivia Matrix), LIVCis positioned to take advantage of the exciting and rapidly growing digital sports and gaming sectors.
On behalf of the board of directors of Live Current Media Inc.
David Jeffs, CEO & Director
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