Liquid Media Group Ltd. Common Shares

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VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Liquid Media Group Ltd. (the “Company,” “Liquid Media” or “Liquid”) (NASDAQ: YVR) announced today that it has received a non-binding term sheet (the “LOI”) in respect of a proposed restructuring transaction from a fast-growing, category-leading company (the “Target”) that has attracted top-tier investor interest and demonstrated strong revenue scaling over the previous two years. Under the terms of the LOI, the Target would merge with a wholly-owned subsidiary of the Company in a stock-for-stock reverse merger transaction (the "Merger") in which the Target will survive as a wholly-owned subsidiary of Liquid. Should the Company determine to proceed with the Merger, the Company would commence immediate efforts to evaluate potential strategic alternatives for its existing assets, including but not limited to, strategic sale, spin-off, or keeping them in place at the Company. Under the terms of the LOI, the Company would retain 25% of the post-merger entity, and the shareholders of the Target would own 75%.

Related tickers: YVR.