Vancouver BC, August 15, 2013 – SoMedia Networks (TSX-V:VID) (“SoMedia,” “the Company”), a pioneer of globally scalable cloud-based video production solutions, is pleased to announce it has retained Assembly Stakeholder Relations ("Assembly") and Renmark Financial Communications Inc. ("Renmark") to provide the Company with investor relations services.
Assembly and Renmark will assist the Company with its efforts to enhance investor awareness including expanding its shareholder base, enhancing its corporate communications, and developing overall shareholder support.
“We are very pleased to be working with both Renmark and Assembly,” says George Fleming, CEO of SoMedia Networks. “Assembly has been engaged to assist us with the development of communications strategies for institutional investors, analysts, and retail investment advisors, while Renmark will conduct an ongoing market awareness program targeting retail brokers and growth and technology investors across North America. “
Assembly and Renmark will work closely with SoMedia’s management to develop a comprehensive investor relations and capital markets strategy intended to cultivate a broad audience of both retail and institutional investors. Through this concerted effort, SoMedia will be introduced to an extensive financial network that includes key influencers and investors in the financial community, and will expand awareness of the Company within the United States. In addition, the Company will attend ongoing roadshow presentations, investment conferences, and analyst meetings.
SoMedia Networks completed its initial public offering on the TSX Venture earlier this summer, recently launched a new ScalableVideo Platform for Enterprise partners, and has demonstrated significant growth in digital agency partnerships.
“Demand for video continues to accelerate and SoMedia’s ScalableVideo technology promises to fill the need,” said Candice Williams, principal at Assembly. “SoMedia is witnessing impressive momentum, and we’re excited to represent a Company with this level of potential.”
Assembly is an investor relations company located in Vancouver, British Columbia, Canada. Assembly’s principals are Candice Williams and Nathan Sellyn. Assembly and the Company are at arm's length. Under the Investor Relations Agreement dated August 1, 2013 (the "Assembly Agreement"), the Company will pay Assembly a fee of CDN$7,000 per month, plus applicable taxes and approved expenses. Assembly will be granted 150,000 options ("Options") to purchase common shares of the Company at a price of $0.85 per common share. These Options are exercisable for a period of 5 years from the date of grant and vest 12.5% every three months for 12 months, with the remaining 50% to vest after 15 months, should the Assembly Agreement be renewed. The Assembly Agreement is for an initial term of 12 months.
Renmark is an investor relations company located in Toronto, Ontario, Canada. The principal of Renmark is Henri Perron. Renmark and the Company are at arm's length. Under the Investor Relations Agreement dated August 6, 2013 (the "Renmark Agreement"), the Company will pay Renmark a fee of CDN$7,000 per month, plus applicable taxes and approved expenses effective as of September 1, 2013. The Renmark Agreement is on a month to month basis, with the right to terminate by either party on 30 days notice. Renmark does not have any interest, directly or indirectly, in SoMedia Networks Inc. or its securities, or any right or intent to acquire such an interest.
All matters reported herein are subject to TSX Venture Exchange approval.
About SoMedia Networks
SoMedia Networks is a pioneer of cloud-based video content production platforms, advanced crowdsourced workforce management, and scalable video production services. SoMedia provides resale, white-label, and on demand video production services across North America to web marketers, digital agencies, corporate brands and media.
With a technology first approach and North American-wide crowd sourced workforce, SoMedia offers a range of ground breaking video production services and products which break down the traditional barriers of cost, volume and reach; making it easy for partners to deliver online video products to their clients simply and affordably, anywhere, at scale.
For More Information Contact:
George Fleming
President, CEO and Director | SoMedia Networks
Tel: 604.683.5510
Email: gfleming@somedia.net
Nadia Gillies
Media Relations | Yulu Public Relations Inc.
Tel: 604-558-1656
Email: nadia@yulupr.com
Candice Williams
Investor Relations | Assembly Stakeholder Relations
Tel: 604.764.2979
Email: cwilliams@assemblysr.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.