OOOOO Entertainment Commerce Limited Announces Third Quarter 2021 Financials
September 28 2021 - 8:00AM
OOOOO Entertainment Commerce Limited (“OOOOO” or the “Company”)
(OOOO:TSXV), a mobile commerce platform, is pleased to announce
that the Company has filed its unaudited financial results for the
three and nine-month period ended July 31, 2021 as well as for the
period from incorporation on March 19, 2020 to July 31, 2020. Full
details of these results can be found on SEDAR at www.sedar.com.
Select 2021 Business Highlights
- OOOOO’s app was the #1 downloaded
free app in the UK on January 21, 2021 the Apple iOS App
Store
- Raised CAD$15MM through a
non-brokered private placement bringing in strategic partners and
long-term investors
- Created a joint venture with
Brazilian retail marketplace B2W, one of the largest online retail
companies in Latin America and the first company to launch live
e-commerce in Brazil in partnership with OOOOO
- Went public under the stock listing
OOOO on the TSX Venture Exchange
- Partnered with JD Sports to launch
live video commerce in the UK. JD Sports is a multi-billion-dollar
company that has over 850 stores in 19 territories worldwide
- Partnered with other iconic brands
in the UK including ISAWITFIRST, Ann Summers, and Missguided
- Hired Tom Judge as Chief Operating
Officer
“These are our first earnings following completion of our
qualifying transaction, and they were as we expected. As a
disruptive technology company, we have seen significant growth in
subscriber numbers and social media followers, not only in the UK
but also our joint venture in Brazil with B2W. We are thankful to
our new partners that joined the OOOOO platform, and we look
forward to many more announcements in the near-term. The Company
has been strategic in its partnerships as each is intended to allow
OOOOO access into new geographical locations or move into a more
diverse product line up. Thank you to the entire team at OOOOO and
our partners. We look forward to sharing more exciting news in the
weeks and months ahead and encourage investors to follow OOOOO
closely as we work to announce new partners that embody "Best
Connected,” commented Sam Jones, Chief Executive Officer OOOOO.
Please visit www.sedar.com for our latest financial
filings.
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.
The Company was founded in 2020 by Sam Jones and
Eric Zhang and has offices in Oxford and Shanghai.
For further information please contact:
OOOOO Entertainment Commerce Limited
Tom Judge, Chief Operating Officer |
Investor Relations |
604.265.0771 |
416.842.9003 |
tom@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.
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