OOOOO and Boohoo Launch Collaboration in UK

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — OOOOO Entertainment Commerce Limited (“OOOOO”) (OOOO:TSXV), a mobile commerce platform, is pleased to announce that BOOHOO.COM UK LIMTED. (“Boohoo”) is the latest global retailer to join OOOOO’s platform.

Boohoo is a United Kingdom-based online fashion retailer, aimed at 16–30 year olds. The business was founded in 2006, and had sales in 2020 of £1,234.9 million. It specialises in own brand fashion clothing, with over 36,000 products. Growing rapidly, the company has acquired numerous brands.

Interactive video commerce continues to explode as a mega-trend in China, estimated to reach $305 billion this year according to Forbes. OOOOO are focused on delivering a technology platform and app to enable brands, retailers and entrepreneurs to embrace the fast-growing live stream economy with its unique interactive video commerce application available for iOS and Android. Having launched in November 2020, the OOOOO platform has seen over +360,000 installs to date and successfully onboarded leading brands across the fashion, sport, beauty, and wellness industries. 

Sam Jones, Co-Founder and CEO of OOOOO says of the partnership: “We are thrilled to welcome Boohoo to the OOOOO platform. Fashion is a key pillar of our UK strategy and Boohoo are pioneers in this category, which will benefit our content and user base significantly.”

Award Grants

OOOOO also announced today that its board of directors has granted an aggregate of 2,276,090 restricted share units to certain of its directors and officers under its Long-Term Performance Incentive Plan dated July 19, 2021. Each restricted share unit shall vest into one OOOOO subordinate voting share on the first anniversary of the grant date.

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

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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; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues. 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 and the success of the business of our partners. 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; changes in the market; 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.

Source : OOOOO


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