MiMedia Announces Signed Global Distribution Agreement with Device Manufacturer KMG Fueguina in Argentina

NEW YORK, Nov. 1, 2023 /CNW/ - MiMedia Holdings Ltd. (TSXV: MIM) ("MiMedia", "Company") is pleased to announce a signed global Distribution Agreement (the "Agreement") with KMG Fueguina ("KMG").

KMG is an Argentina based manufacturer of cameras, TVs, and smartphones, with distribution channels throughout Latin America.  KMG has strategic alliances with JK Imaging Ltd., which holds a license for the Kodak brand, and Asia Optical, a manufacturer of electronic components for the technology industry.  KMG's headquarters reside in Buenos Aires, with representation in Miami, and a company plant in Río Grande (province of Tierra del Fuego) that has the capacity to manufacture more than 20 different types of products simultaneously.

MiMedia is a next generation consumer cloud platform that partners with smartphone makers and telecom carriers globally to provide their consumers with a unique personal cloud experience that enables all types of personal media to be secured in the cloud, accessed seamlessly, across all devices and operating systems and at any time.   

As part of the multi-year Agreement, MiMedia will initially integrate its platform directly onto one million smartphones under the Kodak brand.  MiMedia's consumer cloud platform will provide KMG with a churn-reducing product, deliver immediate market differentiation and enable multiple high-margin and recurring revenue streams.  Integration onto KMG devices will occur faster than ever due to recent technology gains made by the MiMedia team. 

"We are thrilled to partner with KMG, a well respected, proven, and leading device manufacturer in Argentina.  KMG makes great smartphones for the large Argentine market, and we are looking forward to bringing MiMedia's best-in-class consumer cloud platform and its important value proposition to KMG's consumers.  With recent technology advancements made by our team, we are also excited to be able to integrate quickly onto a large portion of the KMG devices, which will have an immediate impact to our business model.  This partnership represents another win with a highly respected local leader and our first in the southern cone of LATAM, further deepening our market share and brand across this important region and large market", said Chris Giordano, CEO of MiMedia.

About KMG Fueguina:  KMG Fueguina is an Argentine manufacturer of cameras (compact, bridge, action cams and smart lenses), TVs, and smartphones. The firm has strategic alliances with JK Imaging Ltd., which holds a license for the Kodak brand, and Asia Optical, a manufacturer of electronic components for the technology industry. The company's plant is in Río Grande, province of Tierra del Fuego and has the capacity to manufacture more than 20 different types of products simultaneously.

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, and their respective businesses, which may include, but is not limited to, statements with respect to the completion of a Transaction, appointment or any other decision made by the business. 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 for-ward-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 companies, including risks regarding the MiMedia industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although MiMedia have 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.

SOURCE MiMedia

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