OOOOO Provides Corporate Update

Vancouver, British Columbia–(Newsfile Corp. – July 22, 2022) – OOOOO Entertainment Commerce Limited (TSXV: OOOO) (OTCQB: OOOOF) (“OOOOO”), a mobile commerce platform, provides an update regarding its previous announced partnership with B2W – Companhia Digital (“B2W”).

The OOOOO Brazil platform was launched in May 2021. The Brazil platform utilised many of the features available from the OOOOO platform. During the initial term, the app had approximately 406,000 downloads and secured an average user rating of 4.4 out of 5.0.

B2W has identified areas of opportunity for further development before making any decision to incorporate the technology within their ecosystem on a longer-term basis. However, with current market sentiment, other technology priorities, and general economic conditions in Brazil, any follow-up projects beyond the initial one-year term have been paused.

B2W advised, “We have completed a successful pilot of the OOOOO technology platform. However, we are prioritizing some other initiatives at this moment and hope to resume the project at an opportune time.”

OOOOO remains committed to B2W and looks forward to resuming business opportunities as market conditions permit.

OOOOO co-founder and CEO Sam Jones stated:

“The pilot in Brazil with B2W has been extremely helpful for our company, developing the technology in a new language and integrating to new platforms. We received over 400,000 installs to the Brazilian app during the period, developing new features within this time. B2W have had some major changes to their group structure since we started the pilot and we look forward to continuing to work with their group in the near future, helping to expand their video commerce capability to their enormous user base in Brazil.”

About OOOOO Entertainment Commerce

OOOOO Entertainment Commerce operates a technology platform that enables retailers, brands and entrepreneurs to share product-based opinions directly to consumers through live, interactive, shoppable videos. The platform also offers gamification and social features which reward the community for helping to grow the user base, reducing the need for traditional ad networks. 

For further information please contact:

OOOOO Entertainment Commerce Limited

Samuel Jones
Chief Executive Officer
604.265.0771
sam@ooooo.com

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Source: OOOOO

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that OOOOO expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of OOOOO’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of OOOOO or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding: growth and future prospects of our business, including in Brazil with B2W; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; and expectations regarding the operation of our app. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers, the success of the business of our partners and the general market adoption of our technology. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those relating to potential disruptions to product delivery; failure to meet regulatory requirements; adoption of the software in Brazil; potential downturns in economic conditions; availability of financing (as necessary); and other risk factors described in our Filing Statement which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and OOOOO undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131691