VANCOUVER, BC--(Marketwired - December 17, 2015) - Movit Media Corp. (TSX VENTURE: MV) (the "Company") is pleased to announce that it has granted a three (3) year exclusive licence to Spiritage SA (Pty) Ltd. ("Spiritage") of Johannesburg, South Africa for use of of the Company's MOVIT App. The licence covers the continent of Africa and allows Spiritage to sublicense the MOVIT App to other entities in Africa. As part of the licensing agreement, Spiritage has agreed to develop a branded app, using the MOVIT App technology as a basis, to be called "Brodacall" for exclusive use in Africa. The terms of the licence agreement include a one-time license fee due from Spiritage of $100,000 CAD, 20% of all sublicense agreement fees and a 2% royalty on all revenues generated by the Brodacall app.
Movit CFO and acting CEO, Stephen D Inouye, said, "The African continent has a population of approximately 1.2 billion and is made up over 60 sovereign states and countries. The population is mobile and roaming fees are an integral part of their personal and business lives. The use of the MOVIT App technology will result in significant savings for customers throughout Africa. The signing of the licensing agreement with Spiritage represents a huge endorsement and validation of the value of the MOVIT App technololgy. We look forward to working with Spiritage and developing the Brodacall App and introducing it across Africa."
The Company also wishes to announce that, further to its news release of December 3, 2015, it has received regulatory consent on the closing of a 1st tranche of a private placement offering of 7,500,000 units for gross proceeds of $375,000 CAD. The Company anticipates closing a second and final tranche in the early part of 2016. The units in this placement are priced at $0.05 per unit and are comprised of one common share and one common share purchase warrant exercisable at $0.10 per share for a period of 24 months from the date of closing. In accordance with applicable securities legislation, the private placement units (including any underlying warrants) will be subject to a hold period of four months plus one day from the date of closing.
Movit recently announced the official launch of its 100% owned MOVIT mobile app, now available for download in the Google Play online store.
Movit is a revolutionary solution for the elimination of international ROAMING charges for travelers using their everyday mobile devices outside of their regular coverage area. This disruptive technology allows users to use their everyday mobile phone number anywhere in the world while incurring only minimal local calling rates via a local SIM card without the hassle of having to use a new unknown international phone number or purchase an expensive mobile calling package.
MOVIT Installation Instructions:
The MOVIT App requires you to have a 2nd unlocked Android cell phone. This 2nd phone will act as your voice router that multiple users can share to avoid costly ROAMING charges.
- Download MOVIT App on your primary cell phone
- Purchase Local Sim card and insert in 2nd unlocked travelling cell phone
- Register local Sim card number in the MOVIT App on your primary cell phone
Enjoy international incoming calls at local rates while maintaining your primary cell number.
About Spiritage SA (Pty) Ltd.
Spiritage SA (Pty) Ltd. is part of the Spiritage Group, a diversified business employing about 400 staff, with interests in telecommunications value added services and technology in general. The Spiritage Group was founded by Mr. Zachary Wazara in September 2009. Mr. Wazara, the former CEO of Econet Wireless Group, a pan African telecommunications group, is an international well balanced management professional with extensive experience at Chief Executive level in the wireless telecommunications space, and has been in telecommunications since 1996. He has set up and run successful greenfield GSM networks in Zimbabwe, Lesotho, Botswana, Kenya, Burundi and Nigeria. He has extensive knowledge of the African market and has done business development work across Africa, in New Zealand and Asia Pacific. Spiritage's focus is on creating revolutionary customer solutions and the service required to deliver such solutions.
About Movit Media Corp.
Movit Media Corp. holds 100% of the MOVIT media mobile suite (www.letsmovit.com), including multiple existing and pending patents. The MOVIT application or "App" is a revolutionary solution for the elimination of international ROAMING charges for travelers using their everyday mobile devices outside of their regular coverage area. This disruptive technology allows users to use their everyday mobile phone number anywhere in the world while incurring only minimal local calling rates via a local SIM card without the hassel of having to use a new international phone number.
ON BEHALF OF THE BOARD
"Stephen D. Inouye"
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends,", "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.
In connection with the forward-looking information contained in this news release, Movit Media considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Movit Media's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: market acceptance of the MOVIT Media's APP, sufficient capital to commercialize the APP and the effect of competitive technologies.
A more complete discussion of the risks and uncertainties facing Movit Media is disclosed in Movit Media's Filing Statement dated November 16, 2010 and continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Movit Media disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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 the release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Stephen D. Inouye