New York, New York--(Newsfile Corp. - April 24, 2024) - MiMedia Holdings Inc. (TSXV: MIM) ("MiMedia", "Company") is pleased to announce that it has engaged Independent Trading Group ("ITG"), a Toronto based CIRO dealer member to carry out market-making activities in accordance with TSX Venture Exchange (the "Exchange") policies. Pursuant to the market-making agreement (the "Agreement") entered into between the Company and ITG, ITG will trade shares of the Company on the Exchange with the objective of maintaining a reasonable market and improving the liquidity of the Company's subordinate voting shares. The Company has agreed to pay ITG a fee of $6,000 per month, payable monthly in advance, for the duration of the Agreement. The Agreement is for an initial term of one month followed by consecutive one-month terms unless cancelled by either party on 30 days' notice.
There are no performance factors contained in the Agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the Agreement, neither ITG nor its principals had an interest, directly or indirectly, in the securities of the Company. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG.
About ITG: Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About MiMedia: MiMedia Holdings Inc. provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services millions of engaged users around the world.
Notice regarding forward-looking statements: This release includes forward-looking statements regarding MiMedia, which may include, but are not limited to, statements with respect to the market-making activities to be performed by ITG. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of MiMedia. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding MiMedia's industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although MiMedia has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MiMedia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
NEITHER THE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information: MiMedia Investor Relations, investors@mimedia.com
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