OOOOO Provides Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - August 29, 2022) - OOOOO Entertainment Commerce Limited (TSXV: OOOO) (OTCQB: OOOOF) ("OOOOO" or the "Company"), a mobile commerce platform, today provided an update regarding its previously announced collaboration with QVC Italia SRL ("QVC Italia") and the "likeQ" app. QVC Italia has decided to discontinue the likeQ app and re-focus QVC Italia's energies into its core business while continuing to find new approaches to reach new audiences.

The likeQ app, utilizing OOOOO's proprietary technology and platform, was launched in January 2022 and included many of the features available on OOOOO's platform, such as gamification, coupons, and split screen shows. During its first six months, the app secured an average user rating of 4.6 out of 5. OOOOO may collaborate with QVC Italia on product development for social eCommerce in the future.

OOOOO co-founder and CEO Sam Jones stated, "As part of this collaboration, we have adapted OOOOO's technology platform to service the Italian market with changes to the language, currency, and payment gateway. Our technology has performed well and broadened our capabilities. We look forward to the opportunity to work with QVC Italia in the future as they continue to embrace social commerce."

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

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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 any future collaborations between OOOOO and QVC Italia, and our perceptions of the industry and markets in which we operate and anticipated trends in such markets. 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 Italy; 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/135291