Live Current Media, Inc. cancelled the acquisition of Total Communicator Solutions, Inc.
September 19, 2023
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Live Current Media, Inc. (OTCPK:LIVC) signed a letter of intent to acquire Total Communicator Solutions, Inc. on June 12, 2023. The transaction is an all-stock transaction. At the closing, the current board of directors of Live Current will resign and a new board will be appointed that will include Mark Ollila, Erik Bjontegard, Heidi Steiger, two directors nominated by Heidi Steiger and two directors nominated by Erik Bjontegard representing TCS. Erik Bjontegard will become President and Mark Ollila will continue as CEO. Pursuant to the terms of the LOI, the parties intend to sign a definitive agreement by July 27, 2023. Conditions precedent to signing of a definitive agreement include completing due diligence by both parties, any shareholder approvals required and TCS completing an audit of its books. Final terms of the transaction will be disclosed upon signing of the definitive agreement.
Live Current Media, Inc. (OTCPK:LIVC) cancelled the acquisition of Total Communicator Solutions, Inc. on September 20, 2023.
Live Current Media, Inc. is a media technology company involved in the creator economy. The Company is engaged in operating the social video streaming application, Kast. Kast is a virtual living room where friends gather to watch movies and play games. The Company acquires and integrates technologies that automate key processes in content and community creation, bringing together businesses and technologies to provide an end-to-end resource for creators who do not have a meaningful piece of the creator economy. Its platform features a set of creative tools and community-building technologies that power video community creation, augmented reality and virtual reality (AR and VR) discovery, social media amplification, personal and business brand management, sponsorship, and alternative revenue creation for the global creative community. The Companyâs ecosystem helps creators manage the four pillars of independent creativity: creation, amplification, participation, and monetization.