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Liquid Media Settles Waterproof Litigation

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, Oct. 22, 2021 (GLOBE NEWSWIRE) — Liquid Media Group Ltd. (the “Company,” “Liquid Media” or “Liquid”) (Nasdaq: YVR), via its wholly-owned subsidiary Liquid Media Group (Canada) Ltd., has entered into a definitive settlement agreement (the “Agreement”) with three shareholders (the “Shareholders”) of Waterproof Studios Inc. (“Waterproof”) terminating litigation among them in respect of Liquid’s interest in Waterproof (the “Claim”). Pursuant to the Agreement, Liquid has agreed to transfer its interest in Waterproof to or for the benefit of the Shareholders in consideration of a cash payment of $825,000 to Liquid, and the Shareholders have agreed to dismiss the Claim on a without cost basis. The Agreement also includes customary mutual releases.

About Liquid Media Group Ltd.

Liquid Media Group Ltd. (Nasdaq: YVR) is a business solutions company empowering independent IP creators. Liquid’s end-to-end solution will enable professional video (film/TV and video game) creation, packaging, financing, delivery, and monetization, empowering IP creators to take their professional content from inception through the entire process to monetization.

Additional information is available at www.LiquidMediaGroup.co.

Further information:

Primoris Group Inc.
+1 (416) 489-0092
pg@liquidmediagroup.co

Media requests:

Investor / Business
Adam Bello
Media & Analyst Relations Manager
Primoris Group Inc.
+1 (416) 489-0092 x 226
media@primorisgroup.com

Industry
Jane Owen
Jane Owen PR
+1 (323) 819-1122
jane@janeowenpr.com

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