ClarificationTORONTO, July 05, 2019 (GLOBE NEWSWIRE) -- ZoomerMedia Limited (TSXV:ZUM) (ZoomerMedia, or the Company), issues clarification on relationship with Canopy Growth Corporation (Canopy). Further to the news release dated July 4, 2019 titled ZoomerMedia Announces Plan To Develop New Medical And Recreational Cannabis Products Specifically For The Zoomer Demographic With Canopy Growth, as requested by Investment Industry Regulator Industry of Canada (IIROC) following a trading halt, ZoomerMedia is issuing the following clarification on the nature of its agreements with Canopy. On April 25, 2019, the Company issued its results for the three and six months ended February 28, 2019. Included in the news release along with interim consolidated financial statements and management discussion and analysis (MD&A) were mention and details of the two agreements ZoomerMedia has with Canopy. Please refer to the Additional Information section below. The first agreement is an affinity partnership agreement which allows Canopy the exclusive right to use the CARP Recommended and Zoomer Recommended seals for Canopys medical and recreational brands, respectively. This agreement is for a two-year term commencing October 17, 2018, with a one-year renewal option. As part of this agreement, Canopy has committed to an annual minimum spend of $300,000 with ZoomerMedia through its various media properties and television production facilities. The second agreement is an exclusive brand licensing agreement which allows Canopy and ZoomerMedia to work together to develop Zoomer and CARP branded cannabis products to be ready for retail sale by April 2021 at the latest. As each product is developed, a separate royalty arrangement will be agreed upon by ZoomerMedia and Canopy. This exclusive brand licensing agreement also has a two-year term commencing October 17, 2018 with a one-year renewal option. As part of this agreement, ZoomerMedia received 16,147 common shares of Canopy. https://www.globenewswire.com/news-release/2019/07/05/1879047/0/en/ZoomerMedia-Limited-Issues-Clarification-on-agreements-with-Canopy-Growth-Corporation.html