MiMedia Holdings Announces Signed Distribution Agreement with Altán Redes in Mexico

NEW YORK, Dec. 5, 2022 /CNW/ -  MiMedia Holdings Ltd. (TSXV: MIM) "MiMedia", or the "Company") is pleased to announce a signed Distribution Agreement (the "Agreement") with Altán Redes in Mexico ("Altán").

Backed by the Mexican government, Altán is the largest wholesale network provider in Mexico with a consortium of over 60 Mobile Virtual Network Operators ("MVNOs") as its customers, including the country's main telecommunications operators and retail distributors.  Altán's mission, in partnership with the Mexican government, is to make excellent, high-speed network connectivity and Internet available to everyone in the country.  Based on the total subscribers served by its MVNO customer base, Altán is the third largest network provider in Mexico.     

MiMedia is a next generation consumer cloud platform that partners with smartphone makers and telecom carriers globally to provide their partners' 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 a partner, MiMedia's consumer cloud platform will provide Altán's expansive network of MVNOs with a sticky or churn-reducing product, immediate market differentiation and multiple high-margin, recurring revenue streams.  As part of the multi-year Agreement, MiMedia will integrate its platform onto a projected 5 million mobile devices over the course of two years.   

"The signed Agreement with Altán represents another key partnership win in the strategic and large market of Latin America and one of the continent's largest markets in Mexico.  We are thrilled to be part of Altán's important mission in Mexico and soon be able to go-to-market with its largest and fastest growing MVNOs.  MiMedia is now partnered with two of the top three telcos in Mexico, representing 70%+ market share, and its partners represent 60% of the overall LATAM market, which consists of 650M people and 500M+ smartphones in total.  

With this new partnership and others recently announced, MiMedia's platform is now contracted to deploy on 20 million devices over the next two years.  This total represents significant user growth, achieved in a short period of time, that we believe can translate into strong revenue and cash flow growth.  We are excited about this growth potential and building further on our momentum", says Chris Giordano, CEO of MiMedia.

About Altán: Altán is a Mexican private company that develops and operates The Shared Network, the most important project in telecommunications in Mexico. It has deployed a state-of-the-art infrastructure to provide coverage to up to 79 million Mexicans, including an energetic nationwide program of social coverage deployment to areas of high marginalization and digital exclusion, with the purpose of covering almost 100,000 localities with less than 250 people and more than 20,000 localities with less than 5,000.

The technical capabilities and services experience of Altán-The Shared Network are developed using 4.5G LTE technology over the 700 MHz spectrum, are currently the best offered, according to independent quality ranks published on the mobile market in Mexico. Under a wholesale business model, it has more than 60 operators as wholesale clients, including the country's main telecommunications operators and retail distributors, who sell the network's services to the final customers.

Altán-The Shared Network is developed under a Public-Private Partnership (PPP) contract with the Mexican Government to promote the vision of achieving a better and more connected country for its people, bringing Internet to everyone in the country. Altán's commitment is to reach at least 92.2% of the Mexican population by 2024.

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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